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WAEC Economics 2013 Question 14

Question 14

Money and Inflation

Which of the following is a function of money?

  1. A.Medium of communication
  2. B.Measure of securities
  3. C.Store of wealth.
  4. D.Discounting bills of exchange.
Show the answer and explanation

Answer: C (Store of wealth.)

Explanation

Money can be kept and used later, so it serves as a store of wealth (value).