ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Buying a product at the store with the lowest price
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Buying a product at the store with the nicest people
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Buying a product at the store with the most choices
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Saving your money toward a large purchase
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Detailed explanation-1: -Gold and other metals are stores of value, as their shelf lives are essentially perpetual. For investors, interest-bearing assets such as U.S. Treasury bonds (T-bonds) qualify, too, because they retain their value while generating income.
Detailed explanation-2: -The costs of making a purchase decision can be considered in value for money. For example, if you are shopping for socks and you find a pair with reasonable value for money, it may be irrational to spend 3 or 4 more hours looking for a pair with exceptional value for money if you also include the value of your time.
Detailed explanation-3: -Money as a Store of Value In the monetary economy, money is considered a store of value, where it can be used as a means of saving and allocating capital. Money’s property as a store of value facilitates a transfer of purchasing power over time.
Detailed explanation-4: -MONEY is the data type which is used to store values involving money.