Functions of Money

Economics ⇒ Money and Banking

Functions of Money starts at 10 and continues till grade 12. QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Functions of Money. How you perform is determined by your score and the time you take. When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.

See sample questions for grade 11

Describe how money facilitates trade in a modern economy.

Describe the role of money as a medium of exchange in an economy.

Explain how money acts as a store of value.

Explain how money helps in the transfer of value between individuals.

Explain the difference between the primary and secondary functions of money.

Explain why barter system was inefficient compared to the use of money.

Explain why money is considered a unit of account.

Is 'measure of value' a primary or secondary function of money?

Is 'medium of exchange' a primary or secondary function of money?

Is 'standard of deferred payment' a primary or secondary function of money?

Is 'store of value' a primary or secondary function of money?

Is the function of 'transfer of value' considered a primary or secondary function of money?

Money can be used to pay salaries, rent, and taxes. Which function does this illustrate?

Money helps in the transfer of purchasing power from one person to another. Which function does this describe?