₦airaland Forum

Hello nairalanders;
They say a problem half shared is a problem half solved. Just like my topic above reads, I will love to go straight to the point.
My second semester in school (2016) was where this question "is recharge card money" sprunged up. My macro economics lecturer walked into the hall and then asked this question as his test question of the semester which we all never expected. Though we treated "money" as our last topic in the scheme of work but we weren't expecting this type of question that left half the class perplexed. After the test which was five mins or less, I took it upon myself by embarking on a research about the question asked by my lecturer earlier.
I surfed the internet but no straight forward answer was given so I decided to come over to nairaland were we have the economists and all other renaissance people so I want to know, is recharge card money?

Define 'Money' in Economics.


What are the characteristics of money in economics?


You are on your way to finding solution.

yeah...recharge card is money.

Recharge card is accepted as a medium of exchange and also for the settlement of debt. Taking an instance, when you recharge your phone with a token say #200. That given amount can serves as a medium of exchange if it's being used for data subscription.

For any recharge, you can also settle your debt. This scenario clearly play out when an individual has an outstanding amount on his SIM, s/he can settled his debt through recharge card.

Lastly, if you are a Punter, you will understand this situation. Through recharge card/ voucher you can place a bet. Almost all betting site accepts Voucher as a substitute for money.

From all indication, you can see Recharge card is Money.

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YoungRichRuler:
Define 'Money' in Economics.


What are the characteristics of money in economics?


You are on your way to finding solution.

thank you

YhungPablo:
.

I know you have sense,but deciding not to use it is what annoys me.