Alex just graduated from college and is now in the market for a new car. He has saved up $4,000 for a down payment. He's decidin
g between a Super and a Duper. The Super is priced at $23,599, and the Duper is priced at $18,999. After agonizing over the decision, he decides to buy the Duper. He writes the dealership a check for $4,000 and takes out a loan for the remainder of the purchase price. Identify what role money plays in each of the following parts of the story. Hint: Select each role only once. Role of Money Medium of Exchange Unit of Account Store of Value Alex writes a check for $4,000. Alex can easily determine that the price of the Super is more than the price of the Duper. Alex has saved $4,000 in his checking account.
1 answer:
You might be interested in