Question

1. The roles of money Yakov is heading out to lunch. He goes to the bank and withdraws $30 from his savings account. He heads to a local deli that sells half sub sandwiches for $4.99 and whole subs for $7.99. Yakov decides that he's pretty hungry and goes for the whole. He pays with a $10 bill and tells the cashier to keep the change.

Answer 1

Answer and Explanation:

In the 1st Scenario, money is used as a unit of account, which means it is used to exchange goods or services.

In the 2nd Scenario, money is used for future saving or future use, so it is included in the Store of value.

In the 3rd Scenario, money is used for the purchase of food, So it is called the medium of exchange.