Which function of money?

Exercise and reference answers

Questions

1. Question

   Paying a shopkeeper with a note

   Choices

   1. Medium of exchange
   2. Store of value
   3. Unit of account

   Correct choice

   Medium of exchange

2. Question

   Saving money for next year

   Choices

   1. Medium of exchange
   2. Store of value
   3. Unit of account

   Correct choice

   Store of value

3. Question

   Quoting every price in rupees

   Choices

   1. Store of value
   2. Medium of exchange
   3. Unit of account

   Correct choice

   Unit of account

4. Question

   Swapping rice for cloth directly

   Choices

   1. Barter
   2. Store of value
   3. Legal tender

   Correct choice

   Barter

Instructions

Tap the function of money each case shows.

Explanation