ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Economists point out that money serves three main purposes. They are all of the following EXCEPT:
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Medium of Exchange
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Store of Value
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Unit of Account
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Unit of Credit
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Explanation:
Detailed explanation-1: -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-2: -Money serves several functions: a medium of exchange, a unit of account, a store of value, and a standard of deferred payment.
Detailed explanation-3: -The three functions of money are: Medium of exchange, unit of account, and store of value.
Detailed explanation-4: -The main function of money according to modern economics is money as a store of value. As a store of value, money functions by helping individuals to store their wealth in the form of money.
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