When you purchase a package of gum at the grocery store for $1.30 and you hand the clerk a $5 bill, she gives you three dollar bills, two quarters and two dimes in change. which characteristic of money does this best represent?

Question

Layton Ford

Business

28 September, 10:00

When you purchase a package of gum at the grocery store for $1.30 and you hand the clerk a $5 bill, she gives you three dollar bills, two quarters and two dimes in change. which characteristic of money does this best represent?

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Cain · Answer 1

When you purchase a pack of gum for $1.30 and you handed the clerk a $5 bill, and in return, you get bills and coins for your change, this is a clear example of money’s characteristic called divisibility. It means that money is easily divided into small units due to the availability of different denominations ranging from coins of lower value to bills of higher value.