Question

What are the functions of money?

Answer 1

Answer:

The functions of money are:

Function # 1. A Medium of Exchange: ...

Function # 2. A Measure of Value: ...

Function # 3. A Store of Value (Purchasing Power): ...

Function # 4. The Basis of Credit: ...

Function # 5. A Unit of Account: ...

Function # 6. A Standard of Postponed Payment:

Explanation:

My parents are bankers.

Answer 2

Functions of money are as follows:

• A medium of exchange.
• A standard of postponed payment.
• A unit of account.
• The basis of credit.
• A store of value i.e Purchasing power.
• A measure of value.

Hope it helps!