ECONOMICS
MONEY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
There are functions of money. Which one is FALSE?
|
|
Exchange medium
|
|
|
Measure of account worth
|
|
|
Deferred payment norm
|
|
|
Limited use
|
Explanation:
Detailed explanation-1: -Answer and Explanation: The correct answer is b. Price mechanism. The price mechanism is not a 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. A measure of value. 13-Dec-2022
Detailed explanation-4: -Function # 1. A Medium of Exchange: Function # 2. A Measure of Value: Function # 3. A Store of Value (Purchasing Power): Function # 4. The Basis of Credit: Function # 5. A Unit of Account: Function # 6. A Standard of Postponed Payment:
There is 1 question to complete.