Functions of Money

_____________ is a fundamental function of money.

• Medium of Exchange

• Store of Value

• Measure of Value

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

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 

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

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.

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.

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.

Which of the following is a primary function of money in an economy?

• Medium of exchange

• Production of goods

• Distribution of resources

• Creation of wealth

Money serves as a ________ when it is used to compare the value of different goods and services.

• Medium of exchange

• Store of value

• Unit of account

• Standard of deferred payment

When money is used to save purchasing power for future use, it is functioning as a:

• Medium of exchange

• Store of value

• Unit of account

• Standard of deferred payment