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List the Five Criteria Necessary in Order for a Good

question 32

Essay

List the five criteria necessary in order for a good to be suitable as a medium of exchange, and explain whether Australian currency is suitable to use as a medium of exchange.
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Definitions:

One-Year Survival Rate

A statistical measure indicating the percentage of individuals or entities that continue to exist or operate one year after initiation.

Diversity

The state of being diverse; it includes a range of different characteristics in a group of people, such as cultural background, ethnicity, gender, and beliefs.

School Placement Services

Organizations or services that assist students in being placed into appropriate educational institutions based on their needs and qualifications.

Trade Associations

Organizations founded and funded by businesses operating in the same industry, aimed at promoting their collective interests and standards.

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