What Function Is Money Serving When You Deposit Money in a Savings

question 188

Multiple Choice

What function is money serving when you deposit money in a savings account?

• A) a store of value
• B) a unit of account
• C) a checkable deposit
• D) a medium of exchange

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Definitions:

Globalization

The process of interaction and integration among people, companies, and governments worldwide, often leading to an exchange of ideas, products, and culture.

Industrialization

The process of transforming economies from primarily agricultural to one based on the manufacturing of goods, characterized by technological innovation and increased productivity.

Industrialized West

Refers to Western countries that have undergone industrialization, characterized by economic development, advanced technology, and a shift from agricultural to manufacturing and service industries.

Agricultural Development

The strategic enhancement of agricultural productivity and the expansion of farming practices to meet increasing food demands.