CAIE A-Level Economics 9.4.1 Money Functions and Characteristics

Practise matching medium of exchange, unit of account, store of value and deferred payment to transactions while separating these functions from portability, durability and…

Exam points

identify medium of exchange when money removes the need for a double coincidence of wants
identify unit of account from quoted prices and deferred payment from obligations due later
distinguish store of value from portability, durability, divisibility and acceptability

[Maximum number: 1]

A website compares the prices of groceries.
Which function of money is illustrated by this?

medium of exchange

standard of deferred payment

store of value

unit of account

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9.4.1—Money functions and characteristics question 1