Worksheetsfunctions of money
Total questions: 8
Worksheet time: 4mins
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
