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What are the Functions of money

Explain in short the functions of money?

Answer:

(A) Medium of exchange: Money can be employed to make payments for all transactions of services and goods.

(B) Measure of value: Money works as a general denomination in which the values of all services and goods are expressed.

(C) Store of value: Wealth can be suitably stored in the form of money without loss of value.

(D) Standard of deferred payments: Money simplifies the borrowing and lending process.

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