Functions of Money
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5 Terms
1
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What are the functions of money
to serve as…
* a medium of exchange
* a measure of value
* a store of value
* a medium of exchange
* a measure of value
* a store of value
2
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What makes money a good medium of exchange?
* It’s widely accepted
* It’s portable
* It’s divisible
* It’s uniform
* It’s portable
* It’s divisible
* It’s uniform
3
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What makes money a good measure of value?
* it is useful for quoting prices.
* it is *familiar, divisible,* and *accepted*.
* it is *familiar, divisible,* and *accepted*.
4
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What makes money a good store of value?
It’s durable for future use
It has stable value, so people do not lose purchasing power
It has stable value, so people do not lose purchasing power
5
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What is money?
any item or commodity that is generally accepted in payment for goods and services or in repayment of debts, and serves as an asset to its holder