The Primary Functions of Money Are

question 8

Multiple Choice

The primary functions of money are:

• A) velocity, liquidity, and transactions.
• B) speculative demand, measure of value, and precautionary demand.
• C) a medium of exchange, a unit of account, and a store of value.
• D) a store of value, heterogeneity, and a medium of exchange.

---

Definitions:

Self-actualizers

Individuals who achieve the highest level of personal growth and fulfillment, according to Maslow's hierarchy of needs.

Metaneeds

Higher-level psychological needs described by Abraham Maslow, such as self-actualization, beyond basic physiological and safety needs.

Deficiency Needs

Basic requirements for physical and psychological well-being, as defined by Abraham Maslow, including needs for safety, love, and esteem, which must be met before an individual can achieve self-actualization.

Self-actualized Persons

Individuals who have realized and fulfilled their potential, as described in Maslow's hierarchy of needs, achieving personal growth and self-fulfillment.