Question

Explain the functions of money ​

Answer 1

Answer:

Money serves several functions: a medium of exchange, a unit of account, a store of value, and a standard of deferred payment.

Explanation:

Answer 2

Answer:

Money serves several functions: a medium of exchange, a unit of account, a store of value, and a standard of deferred payment

Explanation:

Function # 1. A Medium of Exchange: ...

Function # 2. A Measure of Value: ...

Function # 3. A Store of Value (Purchasing Power): ...

Function # 4. The Basis of Credit: ...

Function # 5. A Unit of Account: ...

Function # 6. A Standard of Postponed Payment: