Last year, you sold your game system to your friend Jimmy for $125 in cash. Youve been saving that money in a shoebox under your bed.You are saving the money to buy a new computernext year.A) Measure of ValueB) Store of ValueC) Medium of Exchange

MONEY

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Last year, you sold your game system to your friend Jimmy for $125 in cash. You’ve been saving that money in a shoebox under your bed.You are saving the money to buy a new computernext year.A) Measure of ValueB) Store of ValueC) Medium of Exchange

A	A
B	B
C	C
D	None of the above

Explanation:

Detailed explanation-1: -There have been many forms of money in history, but some forms have worked better than others because they have characteristics that make them more useful. The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability.

Detailed explanation-2: -Unit of account. Knowing the value or price of a good, in terms of money, enables both the supplier and the purchaser of the good to make decisions about how much of the good to supply and how much of the good to purchase.

Detailed explanation-3: -Barter Economy. Money as a Medium of Exchange. Money as a Standard of Deferred Payment. Money as a Store of Wealth. Money as a Measure of Value. Precious Metals as Money. More Resources. 13-Dec-2022

Detailed explanation-4: -a medium of exchange. a store of value. a unit of account.

There is 1 question to complete.

ECONOMICS (CBSE/UGC NET)

ECONOMICS

MONEY