functions of money

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

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

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.

Which of the following is not a medium of exchange?

• Easily standardized

• Divisible

• Quickly become less valuable

• Widely rejected

The primary function of money is

• the store of value function

• the medium of exchange function.

• the unit of account function

• the savings function.

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

• Measure of value,

• Medium of exchange

• Standard of deferred payment

• Store of value

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

Money serves as a unit of account. This means that________

• money is a common measure of value

• money is a means of calculating relative prices of goods and services.

• money is the value in exchange of all goods and services

• all of these