Functions of Money - SS1 Economics Past Questions and Answers - page 1
Which of the following is a function of money?
Investing
Bartering
Medium of exchange
What is the function of money as a unit of account?
To store wealth
To compare the value of different goods and services
To make payments over time
Which of the following is an example of money as a store of value?
A house
A stock
Cash
What is the function of money as a standard of deferred payment?
To compare the value of different goods and services
To make payments over time
To store wealth
Which of the following is an example of money as a unit of account?
A price tag
A savings account
A credit card
What is the function of money as a medium of exchange?
Money is used as a medium of exchange in transactions between buyers and sellers.
What is the function of money as a standard of deferred payment?
Money can be used to make payments over time, such as in loans or credit purchases. It is a reliable and commonly accepted standard of deferred payment.