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18 June, 20:08

In a remote village, a person used five beaver pelts to buy a bag of rice and two beaver pelts to buy a pair of shoes. For what purpose did this person use the money?

A) increase trade

B) store of value

C) medium of exchange

D) unit of account

E) investment

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Answers (1)
  1. 18 June, 20:18
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    In the given situation above, the person used five beaver pelts to purchase a bag of rice and another two beaver pelts for a pair of shoes. Therefore, based on this scenario, the purpose that this person used this money is for medium of exchange. The correct answer would be option C.
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