Final answer:
Paying a parking ticket on campus with money is an example of using money as a medium of exchange, one of its primary functions. This allows for efficient transactions and settlement of financial obligations.
Step-by-step explanation:
If you park on campus but outside the painted parking spot lines, get a ticket, and pay the ticket, this is an example of using money as a medium of exchange. Money, in this context, is used to settle a transaction in which you have incurred a cost (the parking ticket) due to parking incorrectly. By paying the fine with money, you are resolving the obligation created by the parking violation. This function of money allows transactions to occur smoothly. Money acts as a facilitator in trade, enabling goods, services, or in this case, financial obligations, to be exchanged.
A medium of exchange is one of the primary functions of money and is essential for any transaction. It allows for the standardization and efficiency in trade that would be difficult to achieve through barter or trading goods and services directly. In the broader sense, money serves as a unit of account, a store of value, and a medium of exchange, which are all fundamental attributes that facilitate various economic activities and transactions.