Functions of Money

Functions of Money

12th Grade

15 Qs

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Functions of Money

Functions of Money

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Hard

Created by

John Robinson

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

_____________ is a fundamental function of money.

Medium of Exchange

Store of Value

Measure of Value

2.

MULTIPLE SELECT QUESTION

1 min • 1 pt

What 3 things must any currency/money be able to do?

A unit of account

A store of value

A medium of exchange

The thing you used to have before a wife and kids

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

At the grocery store last week, you purchased $94.25 worth of groceries. You paid for the groceries in cash. You gave the cashier four $20 bills, a $10 bill, three $1 bills, and a quarter. What is the primary function of money exhibited here?

Medium of Exchange

Store of Value

Unit of Account

Acceptable 

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Daniel wants to save his money in a way that it can be retrieved in the future without losing value. What function of money is he relying on?

Medium of exchange

Store of value

Unit of account

Standard of deferred payment

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

William wants to buy a book from Aiden. Money is used as a ________ to facilitate this transaction between them.

Medium of exchange

Store of value

Unit of account

Standard of deferred payment.

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

David wants to lend money to Noah for a project. Which function of money is essential for it to be used in lending and borrowing?

Medium of exchange

Store of value

Unit of account

Standard of deferred payment.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Harper is learning about the functions of money in her economics class. Which of the following is NOT a function of money?

Medium of exchange

Store of value

Unit of account

Production of goods.

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