Question

Select all that apply.

Which of the following describe the purpose of money?


store of value

hard to transport

not durable

unit of account

medium of exchange

Answer 1

store of value

unit of account

medium of exchange

Answer 2

Money is anything that people are willing to accept to use for payment for goods and services.The purpose of money can be described as follows:
store of value - money is a way of saving for future purchases
unit of account - money represents the real value (or cost) of any economic item.
medium of exchange- Money serves as a medium of exchange.