Question

Match the given terms to the appropriate statement relating to the various functions of money. Each term is used only once.

a. Money provides a way of measuring a good for value in standardized terms.
b. Money permits us to make purchases today and enables us to pay off the purchases at some future point in time.
c. Money keeps its overall purchasing power.
d. Money is used to complete the transaction between the buyer and seller.

1. Unit of Account
2. Standard of Deferred Payment
3. Medium of Exchange
4. Store of Value

Answer 1

A,)Unit of Account

B)Standard of Deferred Payment:

C)Store of Value

D)Medium of Exchange:

Step-by-step explanation:

.

1. Unit of Account ( this explains that good can be measured for a value)

2. Standard of Deferred Payment( it explains that one can make purchase now and pay later)

3. Medium of Exchange( overall purchasing power is attributed to money)

4. Store of Value( Money is used to complete the transaction between the buyer and seller.