The Three Functions of Money Are to Serve As: (1)a

question 102

Essay

The three functions of money are to serve as: (1)a medium of exchange, (2)a unit of account,and (3)a store of wealth.Briefly explain each of these functions and give an example of each.

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Definitions:

Increases

A term indicating a rise or growth in a numerical value or quantity.

Scatter Diagram

A graph used in statistics to visually display and analyze the relationship between two numerical variables by plotting data points on a Cartesian plane.

Income

The monetary payment received for goods or services, or from other sources, usually calculated on a yearly basis.

Education

The process of receiving or giving systematic instruction, especially at a school or university.