Functions of Money

Money or other substance generally accepted as payment for goods and services.

• Measure of value

• Medium of exchange

• Scarcity

• Store of Value

What are the 3 functions of money?

• Measure of Gold

• Store of Value

• Medium of Exchange

• Store of Bank Notes

• Measure of Value

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

What function of money the picture represent? 

• Store of Value

• Unit of Account

• Medium of Exchange

• Acceptable 

What function of money the picture represents?

• Unit of Account

• Store of Value

• Durable 

• Medium of Exchange

What function of money the picture represents? 

• Unit of Account

• Store of Value

• Stable 

• Medium of Exchange

Last year, you sold your game system to your friend Jimmy for $125 in cash. You've been saving that money in a shoe box under your bed. You are saving the money to buy a new computer next year. What is the primary function of money exhibited here? 

• Store of Value

• Stable 

• Unit of Account

• Medium of Exchange

At the grocery store last week, you purchased $94.25 worth of groceries. You paid for the groceries in cash. You gave the cashier four $20 bills, a $10 bill, three $1 bills, and a quarter. What is the primary function of money exhibited here? 

• Store of Value

• Unit of Account

• Acceptable 

• Medium of Exchange

At the grocery store last week, you had to decide whether to buy the 14.5 oz can of diced tomatoes for $1.75 or the 28 oz. can of diced tomatoes for $2.44. What is the primary function of money exhibited here? 

• Store of Value

• Divisible 

• Unit of Account

• Medium of Exchange