Sign In
Ask Question
Chad Rose
Social Studies
17 August, 07:23
List and describe the three functions of money.
+3
Answers (
2
)
Cassius Hatfield
17 August, 07:33
0
1. Medium of exchange: Money can be used for buying and selling goods and services. If there were no money, goods would have to be exchanged through the process of barter (goods would be traded for other goods in transactions arranged on the basis of mutual need). For example: If I raise chickens and want to buy cows, I would have to find a person who is willing to sell his cows for my chickens. Such arrangements are often difficult. But Money eliminates the need of the double coincidence of wants.
2. Unit of account: Money is the common standard for measuring relative worth of goods and service.
3. Store of value: Money is the most liquid asset (Liquidity measures how easily assets can be spent to buy goods and services). Money’s value can be retained over time. It is a convenient way to store wealth.
Comment
Complaint
Link
Jonathan Cantrell
17 August, 07:42
0
Spending, sharing and taking.
Comment
Complaint
Link
Know the Answer?
Answer
Not Sure About the Answer?
Find an answer to your question 👍
“List and describe the three functions of money. ...”
in 📗 Social Studies if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
What did the British do to protect their planes on the ground
Answers (1)
Hen sasha eats a watermelon, many steps are involved for her brain to interpret what her taste receptors pick up. match the terms with their examples from this scenario.
Answers (1)
The u. s house of representatives is referred to as which of the following? the upper house the judiciary the lower house part of the executive branch
Answers (1)
Why do Americans believe we should be allowed to break away from Great Britain?
Answers (1)
Describe the methods that they (the Nazis) used to get Jews on the trains.
Answers (1)
New Questions in Social Studies
What happened during the holocaust
Answers (2)
Why did the United Nations launch an effort to remember the history of slavery?
Answers (1)
One of the most important criticisms of piaget's theory of cognitive development is that
Answers (1)
1. Language-based direct learning is a more common form of instruction for younger children than older children. true or false
Answers (1)
A college student who is enrolled in school full-time and not seeking employment is considered:
Answers (1)
Home
»
Social Studies
» List and describe the three functions of money.
Sign In
Sign Up
Forgot Password?