The Three Functions of Money Are to Serve As: (1)a

question 102

Essay

The three functions of money are to serve as: (1)a medium of exchange, (2)a unit of account,and (3)a store of wealth.Briefly explain each of these functions and give an example of each.

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Definitions:

Phenotype

The observable characteristics or traits of an organism, resulting from the interaction of its genotype with the environment.

Observable Characteristics

Traits or features that can be seen or measured directly in individuals or phenomena.

Dominant Gene

A gene that expresses its phenotypic trait even when heterozygous with a recessive gene.

Recessive Gene

A gene that produces its characteristic phenotype only when its allele is identical and not masked by a dominant gene in the pair.