Question

You saved $500 in currency in your piggy bank to purchase a new laptop. the $500 you kept in your piggy bank illustrates money's function as a _______. the laptop's price is posted as $500. the $500 price illustrates money's function as a _____. you use the $500 to purchase the laptop. this transaction illustrates money's function as a ______.

Answer 1

Store of value.

Unit of account.

Medium of exchange.

Step-by-step explanation:

Store of value is an asset that can be restored and then traded with other things. When the assest is redeemed it is expected to be of great value. Also a store of value is anything that holds purchasing power in the future.

Unit of account is one of the primary functions of money. Also defined as the unit by which value of a thing is accounted and compared.

Medium of exchange occurs when there is any transaction between buyers and sellers.