passwella.
Menu

JAMB Economics 1983 Question 41

Question 41

Money and Inflation

Money performs a number of functions. ONE of these functions makes it possible for any person to provide for old age. Because of that particular function money is regarded as a

  1. A.medium of exchange
  2. B.measure of value
  3. C.unit of account
  4. D.store of value
  5. E.standard for deferred payments.
Show the answer and explanation

Answer: D (store of value)

Explanation

Money can be saved and used later, so as a store of value it lets people provide for old age.