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Economic Definition of durability. Defined.

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Term durability Definition: One of four characteristics that enables an asset to better function as money. The other three are transportablity, divisibility, and non-counterfeitability. This characteristic means that the item used as money retains its phyhsical structure and institutional value. People are thus willing to accept the item as payment with the assurance that they can use it later to purchase another good -- without loss of value.

 

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