Which Function of Money Is in Each of the Following

question 7

Essay

Which function of money is in each of the following cases demonstrating?
(1)You pay $15 for a movie ticket.
(2)You deposit your tax refund check in your saving account.
(3)A restaurant manager sets the prices of meals she serves in dollars.
(4)A restaurant manager keeps $5,000 worth of cash in a safety deposit box.
(5)McDonald's announces that a Big-Mac now costs only $3.00.
(6)Bill Gates net worth is around $90 billion.

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Definitions:

Means of Production

The resources, such as land, factories, and tools, required for the production of goods and services.

Proletariat

In Marx’s usage, is the working class. Members of the proletariat perform physical labor but do not own means of production. They are thus in a position to earn wages.

Lumpenproletariat

A term used primarily in Marxist theory to describe the lower strata of the working class, including those who are unemployed or unemployable due to the lack of necessary skills.

Capitalist Development

The evolution or advancement of an economic system in which trade, industry, and the means of production are largely privately owned and operated for profit.