ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Which of the following is a primary function of money? *
a. to reduce the burden of excessive imports
b. to serve as a unit of account
c. to serve as an encouragement to work
d. to raise funds for the government
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Step 1
There are three primary function of money:-
1) It act as a medium of exchange.
2) It is a common representation unit for measuring the price of product, services, as well as other exchanges.
3) In order to function as a store of wealth, funds should be consistently secured, deposited, and recovered. Once obtained, it has to be useful as an exchange medium in a predictable manner.
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