functions of money
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Last updated 11:51 AM on 11/10/25
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4 Terms
1
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unit of account
allows us to place a monetary value on goods and services.
the price of goods and services show the unit of account
2
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means of exchange
allows us to trade
businesses and customers can buy and sell goods and services using money
3
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store of value
it allows us to use it in the future as it keeps its value
4
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legal tender
a legaly recognised form of payment
money is widely recognised and used for all sorts of transitions
Note 
Flashcards (29)