What are the three functions of money? What will be an ideal response
QUESTION
What are the three functions of money?
What will be an ideal response?
ANSWER
Answer: Money acts as a medium of exchange, as a store of wealth, and as a standard of value.
Explanation: Money has three functions: (1) it acts as a medium of exchange, (2) it acts as a store of wealth, and (3) it acts as a standard of value.
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