ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Unit of Account
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Hedge for Inflation
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Store of Value
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Medium of Exchange
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Automatic Stabilizer
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Detailed explanation-1: -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-2: -Money facilitates transactions of goods and services as a medium of exchange. Producers sell their goods to wholesalers in exchange of money. Wholesalers, in turn, sell their goods to the retailers and the retailers sell these goods to the consumers in exchange for money.
Detailed explanation-3: -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-4: -A medium of exchange. A standard of deferred payment. A store of wealth. A measure of value. 13-Dec-2022
Detailed explanation-5: -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: