ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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measure of value
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store of value
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unit of value
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medium of exchange
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Detailed explanation-1: -A medium of exchange is an intermediary instrument or system used to facilitate the purchase and sale of goods and services between parties.
Detailed explanation-2: -Money is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account. Medium of exchange.
Detailed explanation-3: -ADVERTISEMENTS: Lastly, money acts as store of value. Money being the most liquid of all assets is a convenient form in which to store wealth, that is, money can be held as an asset. Thus store of value function is also called asset function of money.
Detailed explanation-4: -Medium of Exchange: Money facilitates trades between buyers and sellers better than bartering, which requires trading one good or service directly for another.
Detailed explanation-5: -A medium of exchange. A standard of deferred payment. A store of wealth. A measure of value. 13-Dec-2022