ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a medium of exchange.
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a standard of value.
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a store of value.
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all of the above.
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Detailed explanation-1: -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-2: -Money serves several functions: a medium of exchange, a unit of account, a store of value, and a standard of deferred payment.
Detailed explanation-3: -Medium of exchange is the primary function of money.
Detailed explanation-4: -Solved Question on Functions of Money Money works as a medium of exchange. It helps to measure the value of a good or service. Money plays an important role in lending and borrowing. A person can store the purchasing power of money.
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: