In the Yap civilization of the South Pacific prior to 1920, large, heavy stones in the shape of a wheel were used as money. Which function of money was probably least served by this form of money?

Question

Mohammad

Business

20 November, 10:37

In the Yap civilization of the South Pacific prior to 1920, large, heavy stones in the shape of a wheel were used as money. Which function of money was probably least served by this form of money?

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Answers (1)

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Kelsie Andersen · Answer 1

medium of exchange

Explanation:

The four functions of money are:

Medium of exchange : money must be widely accepted and used as a means to exchange goods. Unit of account : the price of goods is set in money units. Store of value : money can be saved because it keeps its value. Standard for deferred payments: you can borrow money and pay it back at a future date.