Question

Which of the statements​ below, regarding the functions of​ money, is​ true?

a. Money has no impact on economic transactions
b. Money eliminates the need for barter
c. Money only serves as a medium of exchange
d. Money is not a store of value

Answer 1

Money eliminates the need for barter

Step-by-step explanation:

The correct statement regarding the functions of money is: Money eliminates the need for barter. Money serves as a medium of exchange, which means it allows people to buy and sell goods and services without the need for direct bartering. Instead of having to find someone with the exact goods or services you need and who also wants what you have to offer, you can use money as a universally accepted form of payment.