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When money can be saved and used later for purchases it is functioning as a?One of the functions of money in an economy is that it serves as a store of value. A store of value is something that people use to transfer purchasing power from the present to the future. While money is an asset that can store value, it's not the only type. Gold and silver, for example, act as stores of value.
When money is used to pay for goods and services it is functioning as a?Medium of exchange.
Money's most important function is as a medium of exchange to facilitate transactions. Without money, all transactions would have to be conducted by barter, which involves direct exchange of one good or service for another.
What is money what are the functions of money?Money is a liquid asset used to facilitate transactions of value. It is used as a medium of exchange between individuals and entities. It's also a store of value and a unit of account that can measure the value of other goods.
When you use money to purchase groceries money is functioning as a store of value?When you use money to purchase groceries, money is functioning as a store of value. When you use money to purchase groceries, money is functioning as a store of value. a monetary unit for measuring and comparing the relative values of goods. balances.
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