What is the primary role of money in an economy?

Functions and Importance of Money

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Business
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9th - 10th Grade
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Hard

Patricia Brown
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To function as a communication tool
To act as a medium of exchange
To serve as a legal document
To provide entertainment
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a primary function of money?
Store of value
Investment tool
Standard of deferred payment
Medium of exchange
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does money function as a measure of value?
By acting as a legal tender
By facilitating future payments
By storing wealth for future use
By providing a way to compare the value of different goods and services
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term 'deferred payment' refer to?
Payment through barter system
Payment in foreign currency
Future payment for goods purchased now
Immediate payment for goods
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is money considered a standard for deferred payments?
It is universally accepted
It is backed by gold
It simplifies the calculation of interest and future payments
It is a tangible asset
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the significance of money's store of value function?
It facilitates immediate transactions
It allows money to be used as a medium of exchange
It enables money to maintain its value over time
It helps in measuring the value of goods
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does money as a store of value benefit individuals?
By increasing the value of goods
By allowing them to save and spend in the future
By reducing inflation
By providing immediate liquidity
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