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Which function of money is used when a person sells vegetables for cash and then buys clothes?

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Question

Which function of money is used when a person sells vegetables for cash and then buys clothes?

Options

  • Measure of value

  • Store of value

  • Medium of exchange

  • Basis of credit

MCQ
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Solution

Medium of exchange

Explanation: 

Money acts as a medium of exchange when it is used to buy and sell goods and services.

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