Functions of Money

Front

Daniel wants to save his money in a way that it can be retrieved in the future without losing value. What function of money is he relying on?

Back

Store of value

Front

William wants to buy a book from Aiden. Money is used as a ________ to facilitate this transaction between them.

Back

Medium of exchange

Front

David wants to lend money to Noah for a project. Which function of money is essential for it to be used in lending and borrowing?

Back

Standard of deferred payment.

Front

Rohan is comparing the prices of different gadgets. Money as a ________ helps him in measuring and comparing the value of these goods.

Back

Unit of account

Front

Harper is learning about the functions of money in her economics class. Which of the following is NOT a function of money? Medium of exchange, Store of value, Unit of account, Production of goods.

Back

Production of goods.

Front

Liam is saving money in his bank account to buy a car in the future. The ability of money to be used in future transactions is known as its ________.

Back

Standard of deferred payment

Front

David is comparing prices of different products in a store. Which function of money allows it to be used as a measure of economic value?

Back

Unit of account

Front

Henry borrowed money from Nora to buy a car. What is the function of money that allows it to be used in settling this debt?

Back

Standard of deferred payment

Front

Liam is learning about the economy and wonders why money as a ________ is crucial for its role in the economy.

Back

Medium of exchange

Front

In a local market, Harper uses money's ability to be a ________ to buy groceries.

Back

Medium of exchange