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Question
Medium of exchange and measure of value is ______.
Options
Primary functions of money
Secondary functions of money
Tertiary functions of money
Contingent functions of money
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Solution
Medium of exchange and measure of value is Primary functions of money.
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“The value of all goods and services can be expressed in monetary units.”
On the basis of the given statement, identify the function performed by money:
Which function of money helps avoid the problem of finding someone who wants exactly what you offer in exchange?
What does money provide when individuals compare prices to determine the worth of goods?
Why is money called the most liquid asset?
Which function of money is used when a person sells vegetables for cash and then buys clothes?
Which function of money makes it easy to repay loans in the future?
Saving pocket money in a piggy bank mainly shows which function of money?
Banks use public deposits of money to create loans. Here money is mainly acting as ______.
