Jake wants to purchase a new computer and go to the Caribbean for spring break. The computer is priced at $1,299, and the vacation is priced at $800. He has only $1,574 in his checking account, so he cannot afford to purchase both. After much thought, Jake buys the computer and writes a check for $1,299.
Identify what role money plays in each of the following parts of the story.
Hint: Select each role only once.
Role of Money
Medium of Exchange
Unit of Account
Store of Value
Jake can easily determine that the price of the computer is more than the price of the vacation.
Jake has $1,574 in his checking account.
Jake writes a check for $1,299.
Answers: 3
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Jake wants to purchase a new computer and go to the Caribbean for spring break. The computer is pric...
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