Social Studies, 25.12.2019 14:31 yedida

What are the three main purposes of money? in your answer, be sure to explain why each purpose us to eliminate the need for bartering.

Answers: 2

Show answers

Answers

Answer from: yoridff

The three main purposes of money are : for the purpose of buying and selling products and services (medium of exchange), money is used to measure the value or worth of products and services and finally it is used to store wealth that is easily spent. This means that it is a liquid asset; it can be easily used to purchase goods and services. Having a tangible item such as money eliminates the need for trading exchanging one item for another in bartering.

Answer from: madelynreynolds4757

The three main purposes of money:

Unit of Accounting

Deposit of Value Means of Exchange

Money serves three main purposes. It is a unit of account, a medium of exchange, and a store of value:

Medium of Payment: Money functions as a medium of exchange when it is utilised to facilitate the exchange of commodities and services.

Unit of Accounting: A standard numerical unit of account for measuring the market value of products, services, and other transactions.

It is a standard of relative worth and postponed payment, and as such, it is a requirement for the formation of commercial debt arrangements.

Money must be divisible into smaller pieces without losing value, fungible (one unit or piece must be seen as equivalent to any other), and have a specified weight or size to be verifiably countable in order to serve as a unit of account.

Deposit of Value: Money must be reliably saved, stored, and retrieved in order to serve as a store of value.

When it is retrieved, it must be useable as a means of exchange in a predictable manner.

Furthermore, the value of money must be consistent over time.

Economists occasionally point out that money has extra roles, such as serving as a standard of deferred payment and a measure of value.

For more information about Money refer to the link:

link

Answer from: Quest

a charter of rights that the rebellion made for king john to approve for basic rights.

Answer from: Quest

thomas jefferson

explanation:

Other questions on the subject: Social Studies

Social Studies, 21.06.2019 17:10, lcdavis16

How did republicans gain control of southern state governments during reconstruction

Answers: 1

continue

Social Studies, 22.06.2019 11:40, ariannanykole1

The president’s role in a political party is to set the legislative agenda true or false

Answers: 1

continue

Social Studies, 22.06.2019 16:10, moncho6222

Which best explains why the supreme court’s decision in plessy v. ferguson was unconstitutional? the supreme court’s ruling allowed states to deny equal protection to any person within its jurisdiction. since the 14th amendment did not make concessions for people born outside the us, the supreme court’s decision could not be applied. the supreme court’s decision gave individual states the freedom to make their own laws in relation to non-whites. since segregation laws did not provide equal protections or liberties to non-whites, the ruling was not consistent with the 14th amendment.

Answers: 3

continue

Social Studies, 22.06.2019 20:20, angebaez91

What were two likely reasons that clan chiefs opposed buddhism when it was introduced in japan?

Answers: 1

continue

You know the right answer?

What are the three main purposes of money? in your answer, be sure to explain why each purpose us...