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WAEC Commerce 2018 Question 24

Question 24

Money

The functions of money do not include

  1. A.store of value.
  2. B.medium of exchange.
  3. C.double coincidence of wants.
  4. D.means of deferred payment.
Show the answer and explanation

Answer: C (double coincidence of wants.)

Explanation

Double coincidence of wants is a problem of barter that money solves; it is not a function of money.