Question

State The Three Main Function Of money​

Answer 1

Answer:

it is a medium of exchange , a unit of acccount and a store of value,medium of exchange

Explanation:

when when the money is intermediate the exchange of goods and services it is exchange of medium

Answer 2

Hello !

The Three Main Functions Of Money

1. A Medium of Exchange:

       The only alter­native to using money is to go back to the barter system. However, as a system of ex­change the barter system would be highly impracticable today.

2. A Measure of Value:

         Money is the measuring rod of everything. By acting as a common denominator it permits everything to be priced, that is, valued in terms of money. Thus, people are enabled to com­pare different prices and thus see the relative values of different goods and services.

3. The Basis of Credit:

             Money facilitates loans. Borrowers can use money to obtain goods and services when they are needed most. A newly married couple, for example, would need a lot of money to completely furnish a house at once. They are not required to wait for, say ten years, so as to be able to save enough money to buy costly items like cars, refrigerators, T.V. sets, etc.

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