Functions of Money Review

Front

This means that money is generally accepted as payment for goods and services.

Back

Medium of exchange

Front

Elliot needs to buy a new Dell laptop for college. He goes to Best Buy AND Target to get prices for the laptop he would like to buy.

Back

Unit of account

Front

A saving account in a bank represents the function of money:

Back

Store of value

Front

What function of money does the picture represent?

Back

Medium of Exchange

Front

What function of money does the picture represent?

Back

Unit of Account

Front

What function of money does the picture represent?

Back

Store of Value

Front

What is the primary function of money exhibited when you sold your game system to your friend Jimmy for $125 in cash and saved that money to buy a new computer next year?

Back

Store of Value

Front

What is the primary function of money exhibited when you paid $94.25 for groceries using cash?

Back

Medium of Exchange

Front

What is the primary function of money exhibited when deciding between a 14.5 oz can of diced tomatoes for $1.75 and a 28 oz. can for $2.44?

Back

Unit of Account

Front

What is the best definition of a medium of exchange?

Back

is a system used to help the sale, purchase or trade of goods and services