Question

Give meaning and functions of money ​

Answer 1

Explanation:

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

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Answer 2

Answer:

Definition and Functions of Money

Definition of Money.

Money, in simple terms, is a medium of exchange. It is instrumental in the exchange of goods and/or services.

Functions of Money.

A medium of Exchange – In an exchange economy, money plays an intermediary role. It makes the exchange system smooth and convenient.