BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following functions are part of the primary function of money?
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medium of exchange
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measurement of value
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both options are correct
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None of these
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Explanation:
Detailed explanation-1: -Medium of exchange is a primary function of money.
Detailed explanation-2: -To summarize, money has taken many forms through the ages, but money consistently has three functions: store of value, unit of account, and medium of exchange.
Detailed explanation-3: -A medium of exchange. A standard of deferred payment. A store of wealth.
Detailed explanation-4: -Medium of exchange is the primary function of money.
Detailed explanation-5: -Money serves as a medium of exchange, as a store of value, and as a unit of account. Medium of exchange. Money’s most important function is as a medium of exchange to facilitate transactions.
There is 1 question to complete.