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When economists say that money is a store of value does it mean that money can be used to measure the value of other commodities?
Money has three functions, being a: 1) store of value; 2) unit of account; 3) medium of exchange. The first, a store of value, implies that money maintains and stores its value over time - unlike many other mediums of exchange, which can depreciate. Money is intended to be storeable, retrievable, and reuseable as a medium of exchange itself. Therefore, being a store of value does not mean that money can be used to measure the value of other commodities - that is its third function, medium of exchange.
What are the three basic function of money?
1. A store of value - it holds value, 2. A medium of exchange - it is used in financial transactions and 3. A unit of account - it used to measure the value of goods.
Is money a store of value?
No, because the value of money depreciates with inflation.
Example of money as a store of value?
making money at a garage sale and saving it
What are the 3 main fuctions of money?
Money as a Medium of Exchange, Money as a Measure of Value, Money as a Store of Value.
If country's money loses its function as a store of value?
D all of the above
What does a store do with a fake us bill?
They can turn it in to the local police who will take it from there. Neither the police nor the government will replace the money, the store simply loses it.
Where does a bird go when it loses its tail?
to retail store
What is the primary function of a bank?
It is a place to store money or get a loan. If you get answers here, you should contribute some too.
What primary function is money serving when you keep it in a bank account until you need it to purchase a product?
A store of value.
What is the primary function of a traditional bank?
It is a place to store money or get a loan. If you get answers here, you should contribute some too.
If a horse loses its tail where can it get a new one?
a re-tail store
What is the function of a CD?
the function of a cd is to store data
What is the function of CD?
the function of a cd is to store data
When was Money Store created?
Money Store was created in 1967.
When did Money Store end?
Money Store ended in 2000.
How much money do you make for owning a skateboard shop?
1,000,000,000,000,000,000,001 dollars a year
