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AVprozaik [17]
3 years ago
7

The roles of money

Business
1 answer:
nikitadnepr [17]3 years ago
7 0

Answer:

Medium of exchange

unit of account

store of value

Explanation:

Money is anything that is generally accepted as a means of payment for goods and services and for repayment of debt.

Functions of money  

1. Medium of exchange : money can be used to exchange for goods and services. For example, by writing the check, he is exchanging money for a car

2. Unit of account : money can be used to value goods and services, For example, price was used to determine which was more expensive between the super and the duper

3. Store of value : money can retain its value over the long term, this it can be used as a store of value.  

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