In a less-developed economy, cattle is widely accepted as payment for goods and services. Nearly all goods and services are priced in terms of cattle; however, cows vary in quality, become less valuable with age, and are difficult to move over long distances. Which of the following functions of money do cattle provide? Select the two correct answers.(4 points)

Question

In a less-developed economy, cattle is widely accepted as payment for goods and services. Nearly all goods and services are priced in terms of cattle; however, cows vary in quality, become less valuable with age, and are difficult to move over long distances. Which of the following functions of money do cattle provide? Select the two correct answers.(4 points)

Responses

Medium of Exchange
Medium of Exchange

Uniformity
Uniformity

Portability
Portability

Unit of Account
Unit of Account

Store of Value
Store of Value

Answer 1

- Medium of Exchange

- Store of Value