Which are functions of money? Select the three correct answers.
(1 point)
Responses
store of value
producer of resources
unit of account
medium of exchange
record of finances
unit of output
The three correct functions of money are:
1. Store of value: Money can be stored and saved for future use, allowing individuals and businesses to preserve their wealth.
2. Medium of exchange: Money is used as a common medium of exchange in transactions, facilitating the buying and selling of goods and services.
3. Unit of account: Money serves as a standard unit for measuring and comparing the value of different goods, services, assets, and debts.