If Money Is Used as a Mechanism to Hold Purchasing

question 114

Multiple Choice

If money is used as a mechanism to hold purchasing power for a period of time it is functioning as a

• A) standard of value.
• B) store of value.
• C) medium of exchange.
• D) unit of account.

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Definitions:

Firm

A business organization, such as a corporation, partnership, or sole proprietorship, that sells goods or services to make a profit.

Producing

The act or process of creating goods or services using inputs like labor, materials, and machines.

Maximum Weekly Profit

The highest amount of financial gain a business can achieve in one week, based on its revenue and costs.

Market Price

The existing cost at which a service or asset is available for purchase or sale on the open market.