Question
Which are functions of money select the three correct answer one point store of v a l u e produces or resources unit of account meeting of exchange record of finance unit of output
Answers
GPT 3.5
The three correct functions of money are:
1. Store of value: Money acts as a medium to store value over time. It allows individuals to save their economic resources for later use.
2. Medium of exchange: Money serves as a widely accepted medium for buying and selling goods and services. It facilitates the exchange of goods and services in the economy.
3. Unit of account: Money provides a common unit of measurement for expressing the value of goods, services, and resources. It enables individuals to compare the relative worth of different items and determine prices.
1. Store of value: Money acts as a medium to store value over time. It allows individuals to save their economic resources for later use.
2. Medium of exchange: Money serves as a widely accepted medium for buying and selling goods and services. It facilitates the exchange of goods and services in the economy.
3. Unit of account: Money provides a common unit of measurement for expressing the value of goods, services, and resources. It enables individuals to compare the relative worth of different items and determine prices.