Question

Question
Which are functions of money? Select all that apply.
(2 points)
Responses

store of value
store of value

producer of resources
producer of resources

unit of account
unit of account

medium of exchange
medium of exchange

record of finances
record of finances

unit of output

Answer 1

The functions of money include:

1. **Store of value** - Money can be saved and retrieved in the future, retaining its value over time.
2. **Unit of account** - Money provides a standard measure for pricing goods and services, making it easier to compare their values.
3. **Medium of exchange** - Money is used to facilitate transactions between buyers and sellers.

The other options, such as "producer of resources," "record of finances," and "unit of output," are not recognized functions of money.

So the correct responses are:
- Store of value
- Unit of account
- Medium of exchange