Functions of Money
Economics ⇒ Money and Banking
Functions of Money starts at 10 and continues till grade 12.
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See sample questions for grade 10
Describe how money acts as a standard of deferred payment.
Describe the importance of the 'store of value' function of money in an economy.
Describe the role of money as a 'unit of account' in an economy.
Explain how money facilitates trade compared to the barter system.
Explain the difference between the primary and secondary functions of money.
Explain the function of money as a 'store of value'.
Explain why money is considered more efficient than barter for conducting transactions.
In a barter system, why is the double coincidence of wants a problem?
In the context of money, what does 'unit of account' mean?
Money can be used to transfer purchasing power from one place to another. Name this function.
Money enables people to save their wealth for future use. This refers to which function of money?
Money helps in the transfer of purchasing power from one person to another. Is this a primary or secondary function of money?
Money is used to compare the prices of different products. This is an example of which function?
Money is used to pay for goods and services. This is an example of which function?
Money is used to pay salaries and wages. Which function does this represent?
State any two secondary functions of money.
