What is purpose of money?
What are the 3 purposes of money?
In summary, money has taken many forms over the centuries, but it has consistently three functions: store of value, unit of account, and medium of exchange. To see also : What is the name Bob mean?.
What are the 4 goals of money? Money has several functions: a medium of exchange, a unit of account, a store of value, and a deferred payment standard.
What are the 3 types of money?
Economists distinguish between three different types of money: commodity money, fiscal money and bank money. Commodity money is a good whose value serves as the value of money. Gold coins are an example of a commodity money.
What are the 8 characteristics of money?
The features of good money are: To see also : What do rich people do with their money?.
- General acceptance.