ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The purchasing power of money can be transported from one time period to another.
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Money is like a yardstick, people use it to compare things they buy and sell.
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Money is accepted by people when they buy goods and services
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Mr Hoffman HOLLA DOLLA
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Detailed explanation-1: -A store of value is any commodity or asset that would normally retain purchasing power into the future and is the function of the asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved.
Detailed explanation-2: -money allows us to transfer purchasing power from present to future. it is the most liquid (spendable) of all assets, a convenient way to store wealth.
Detailed explanation-3: -A store of value is essentially an asset, commodity, or currency that can be saved, retrieved, and exchanged in the future without deteriorating in value.
Detailed explanation-4: -Functions of Money: Store of value Store of value refers to the ability of an asset to hold its purchasing power over time. For one asset to be considered money, it has to have value over time. If you have an asset that will decrease in value in a short time, it can’t be considered money.
Detailed explanation-5: -Ans: Store of value refers to that function of money which enables it to be stored and retrieved at a later period of time. Money can be stored because it is durable in nature.