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Question
“Money helps to express the monetary value of goods and services in the market”.
On the basis of the given statement, Identify the function performed by money.
Options
Medium of exchange
Store of value
Measure of value
Transfer of value
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Solution
Measure of value
Explanation:
The statement "Money helps to express the monetary value of goods and services in the market" refers to the function of money that allows it to act as a common standard for the valuation of goods and services. This enables all parties in an economy to make decisions about what to exchange, how much to exchange, and to compare the value of different goods and services efficiently.
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| Column A | Column B | ||
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