Unit 3 Exam 💜

What is Unit of Account ?

Allows goods and services to have a value and them to be compared with each other

What is Means of Exchange ?

Money allows goods and services to be bought and sold in exchange for payment.

What is Store of Value ?

Money allows people to save it and use it to purchase goods and services in the future.

What is Legal Tender ?

Money that is legally recognised as a valid form of payment for settling debts.

What does personal attitudes means ?

An individual’s beliefs and opinions about saving and spending money

Give an example of personal attitudes

An individual may want to save their money to ensure financial security while someone else may spend it to purchase a car or something else.

Identify