Money has three functions that distinguish it from the rest of the assets: 1) It is a means of change; 2) It is a unit of account; and 3) It is a store of value.
1.- <u>MEANS OF PAYMENT OR CHAN</u>GE: basically, it consists of the use of money to make any type of transaction, thus facilitating the exchange of goods, products and services. Deliver one thing for another.
2.- <u>ACCOUNT UNIT: th</u>is fulfills the function of determining the units of value, or prices, that the goods, products and services have. It is related to the prices.
3.- <u>DEPOSIT OF VALUE:</u> it consists of being able to buy something in the future. Money has the capacity to remain stable over time, which allows a person who has a capital today to invest it in the following months, or even years
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It is a developing country because of its history. Apartheid was there until the 1990s which had restricted development in poorer areas with black communities. Big cities like Johannesburg are great developed places but South Africa is a EDC like India, China etc. so..there is no effect.
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The region is characterised by widespread poverty, unemployment, food scarcity and insecurity, malnutrition, starvation, inequality, isolation and underdevelopment. The main problems and challenges of development in this province is poverty, lack of employment, illiteracy, inequality, malnutrition and so on.