Question 16
[Maximum number: 1]
A website compares the prices of groceries.
Which function of money is illustrated by this?
A
medium of exchange
B
standard of deferred payment
C
store of value
D
unit of account
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…
How this is tested
- 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