QUESTION IMAGE
Question
of moneys three functions, the one that distinguishes money from other assets is its function as a
unit of account.
medium of exchange.
store of value.
standard of deferred payment.
Money has three main functions: unit of account (measures value), medium of exchange (used to buy/sell), store of value (holds value over time), and standard of deferred payment (for future payments). Other assets (like stocks, real estate) can store value or be units of account, but only money is widely accepted as a medium of exchange to directly facilitate transactions, distinguishing it from other assets.
Snap & solve any problem in the app
Get step-by-step solutions on Sovi AI
Photo-based solutions with guided steps
Explore more problems and detailed explanations
B. medium of exchange