Bryan needs a new backpack. He compares the prices of three different backpacks at a local store to find the best deal. Which function of money is Bryan demonstrating?

Question

(1 point)
Responses

unit of account
unit of account

store of value
store of value

acceptance of payment
acceptance of payment

medium of exchange

Answer 1

The function of money that Bryan is demonstrating is:

unit of account

In his comparison of backpack prices, he is using money as a common measure to determine the relative cost of each backpack, thus acting as a unit of account.