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What is money and what functions does it serve in the economy?
Money is a medium of exchange that is widely accepted in transactions. It serves as a unit of account, a store of value, and a standard of deferred payment in the economy.
Is money a store of value?
No, because the value of money depreciates with inflation.
Describe one way money acts as a store of value?
Money acts as a store of value because it is valuable. Money can be held and spent when something is worth it's value.
What is a store of value?
What are the funcation of money
What functon of money allows the monetary unit of a country to serve as a unit in which the value of all goods and services can be measured?
Money as a measure of value is the function of money.
What are the 3 main fuctions of money?
Money as a Medium of Exchange, Money as a Measure of Value, Money as a Store of Value.
Example of money as a store of value?
making money at a garage sale and saving it
When economists say that money is a store of value does it mean that money can be used to measure the value of other commodities?
Money has three functions, being a: 1) store of value; 2) unit of account; 3) medium of exchange. The first, a store of value, implies that money maintains and stores its value over time - unlike many other mediums of exchange, which can depreciate. Money is intended to be storeable, retrievable, and reuseable as a medium of exchange itself. Therefore, being a store of value does not mean that money can be used to measure the value of other commodities - that is its third function, medium of exchange.
Which game store gives money for old games?
Game Stop does, but it's better to get store credit because the value for store credit to money is better.
Money functions as a unit of accounting when?
It is used as a store of value.
When used to accumulate wealth money functions as a?
Store of value
Money serves as a store of value by?
When money serves as a store of value it is a monetary unit for comparing and measuring the relative values of goods. It helps to keep the wealth readily for future use.
