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functions of money

Authored by Sonika Parmar

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8th Grade - University

Used 550+ times

functions of money
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8 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A student records her income and spending for past month, she uses the function of money

Medium of exchange

Standard of deferred payments

Unit of account

Store of value

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Store of value

A medium of exchange

A standard for deferred payments

A measure of value

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose the most accurate definition of "money".

Money is anything generally accepted in payment for goods or services or in the repayment of debts.

Money is anything recognized in trading and transaction for goods.

Money is legal currency that is released by banks to satisfy the financial needs of the people.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a medium of exchange?

Easily standardized

Divisible

Quickly become less valuable

Widely rejected

5.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

The primary function of money is

the store of value function

the medium of exchange function.

the unit of account function

the savings function.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For which function, money is accepted as a unit of account?

Measure of value,

Medium of exchange

Standard of deferred payment

Store of value

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A medium of exchange is_______

something that is generally acceptable in exchange for goods and services

a legally recognized asset that is generally accepted in exchange for goods and services.

something that circulates and provides a standardized means of evaluating the relative price of goods and services.

The ability of money to command purchasing power in the future

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