--%>

Primary functions of money

Elucidate the Primary functions of money.

Answer: Primary functions:

1) Medium of Exchange: This means that money acts as an intermediary for goods and services in exchange transaction.

2) Measure of value or unit of value money: It serves as a measure of value in terms of unit of account.

   Related Questions in Microeconomics

  • Q : Difference between opportunity cost and

    Differences among the opportunity cost of a purchase through a consumer and the seller’s price are increased through: (w) taxes. (x) intermediaries. (y) competition. (z) speculators. Can anyb

  • Q : Marginal revenue for the pure monopolist

    Give the answer of following question. Price exceeds marginal revenue for the pure monopolist because the: A) law of diminishing returns is inapplicable. B) demand curve is downsloping. C) monopolist produces a smaller output than would a purely competitive firm. D) d

  • Q : Labor History-Yellow Dog Contracts

    Can someone help me in finding out the right answer from the given options. The worker who signed a yellow dog contract in the year 1920s agreed: (1) To support the union’s feather-bedding efforts. (2) Not to work with the ‘scab’ non-union strike-bre

  • Q : Problem on demand for Inferior Goods I

    I have a problem in economics on demand for Inferior Goods. Please help me in the following question. When income rises, demands for: (1) Substitute goods reduce. (2) Inferior goods reduction. (3) Normal goods reduction. (4) Complementary goods rise.<

  • Q : Functions of Profits and Losses The

    The functions of profits into a market economy do NOT comprise: (1) stimulation for firms to be innovative and efficient. (2) compensating savers for delays of consumption. (3) signaling changing business conditions. (4) inducing mimi

  • Q : Price equality to marginal costs A

    A nondiscriminating monopolist's equilibrium output is inconsistent along with: (w) marginal revenue equals marginal cost [MR = MC]. (x) price equal to marginal costs [P = MC]. (y) price exceeding average variable costs [P > AVC]. (z) price exceedi

  • Q : P/PROVIDE ME ANS IN HINDI BHASA

    Question 1: Describe the main features of Harrod-Domar Growth model. How does the Harrod Domar model describe the occurrence of trade cycles?

  • Q : Economics surpluses drives price down,

    surpluses drives price down, shortages drives them up

  • Q : Marginal factor-Costs problem I have a

    I have a problem in economics on Marginal factor Costs. Please help me in the given question. The synonymous words marginal factor costs or marginal resource costs signify to the: (p) Cost incurred in generating an additional unit of the capital. (q) Cost to the resou

  • Q : Problem on Explicit Costs Can someone

    Can someone help me in finding out the precise answer from the given options. The explicit costs of the firm would not comprise: (1) Salaries paid to the employees. (2) The value of owner’s effort and time. (3) Electric bills automatically paid as the drafts on