Question

As the COVID-19 pandemic spreads across the globe, cash-in-hand has become important again. This is because investments across sectors now lie in uncertain terrain. Adding to everyday woes is the fact that many companies are considering layoffs or delayed salaries. Access to one’s own savings has become a luxury. From the above Para identify one of the function of money? 

(a) Medium of exchange

(b) Store of value

(c ) Unit of account


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Answer 1

Medium of exchange.

This pandemic has been a teaching experience and these are the few money lessons that one should have learnt from this pandemic, you know, just for the future’s sake. We need to apply these lessons because even the WHO has declared that this might not be the last pandemic.