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 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?
Which function of money helps in making deferred payments? (1) Medium of exchange (2) Standard of deferred payment (3) Store of value (4) Measure of value
Which function of money is being used when a person compares the price of two different products? (1) Store of value (2) Medium of exchange (3) Measure of value (4) Standard of deferred payment
Which function of money is being used when a person pays for a product in a shop? (1) Store of value (2) Medium of exchange (3) Standard of deferred payment (4) Transfer of value
Which function of money is being used when a person saves cash for future expenses? (1) Store of value (2) Medium of exchange (3) Measure of value (4) Standard of deferred payment
Fill in the blank: Money as a ________ allows people to compare the worth of different goods and services.
Fill in the blank: Money as a ________ allows people to make payments over time.
Fill in the blank: Money as a ________ helps in expressing the value of all goods and services in a single unit.
Fill in the blank: The function of money that allows people to buy goods and services is called ________.
Is 'store of value' affected by inflation?
True or False: Money as a measure of value allows for the pricing of goods and services in different units.
True or False: Money as a measure of value helps in expressing the price of goods and services in a common unit.
True or False: Money as a medium of exchange increases the efficiency of trade.
