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From course:

Economics A Level

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(Practice similar questions for free)
Question:

What other functions does Money serve as well?

Author: go kys



Answer:

-Measure of Value: Value given to example Barrel of Oil measured in US Dollars -Store of Value: Person who gets a set wage may wait to purchase something if they believe its value will be maintained. -Standard of Deferred Payment: Money can be paid at later date for something consumed / used now. For example University Fee.


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go kys
go kys