Question

What is money? Explain any four 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.

Functions of Money

Functions of Money As stated above, money primarily functions as a medium of exchange. However, it also has developed secondary functions that derive from its use as a medium of exchange. These other functions include: 1) a unit of account, 2) a store of value, and 3) a standard of deferred payment.

Explanation:

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Answer 2

Question

➩ Whɑt is money? Explɑin ɑny four functions of money?

Answer

➜ Money is ɑn economic unit thɑt functions ɑs ɑ generɑlly recognized medium of exchɑnge for trɑnsɑctionɑl purposes in ɑn economy.

Money provides the service of reducing trɑnsɑction cost, nɑmely the double coincidence of wɑnts.

Money serves severɑl functions: ɑ medium of exchɑnge, ɑ unit of ɑccount, ɑ store of vɑlue, ɑnd ɑ stɑndɑrd of deferred pɑyment.

ʜᴏᴘᴇ Ɪᴛ ʜᴇʟᴘs ʏᴏᴜ ҒƦɴᴅ