Which of the Following Lists CORRECTLY Names Money's Functions

question 174

Multiple Choice

Which of the following lists CORRECTLY names money's functions?

• A) a unit of account,a store of value,a medium of exchange
• B) barter,a double coincidence of wants,a unit of account
• C) transaction costs,a medium of exchange,a unit of account
• D) liquidity,barter,a medium of exchange

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Definitions:

Frederick W. Taylor

An American mechanical engineer who is considered the father of scientific management, focusing on efficiency improvement through the analysis and optimization of workflow.

Operations Management

Focuses on the planning, organizing, and supervising of production, manufacturing, or the provision of services, ensuring efficient operations and effective management of resources.

Mass Customization

A strategy that combines the flexibility and personalization of custom-made products with the low unit costs associated with mass production.