Functions of Money Include All of the Following Except

question 20

Multiple Choice

Functions of money include all of the following except

• A) Money serves as a medium of exchange.
• B) Money may be held as a store of value.
• C) Money serves as a standard of value.
• D) All of the above are functions of money.

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Definitions:

Least-Cost Combination

The least-cost combination is an economic principle that refers to the mix of factors of production that minimizes costs for a given level of output.

Resources

Inputs used in the production of goods and services, such as labor, capital, land, and entrepreneurship.

Output

The total amount of goods or services produced by a company, industry, or economy over a specific period of time.

Least-Cost Combination

is an economic principle where firms aim to produce a given output at the minimum possible cost by choosing the optimal combination of inputs.