Functions of Money

People tend to hold on to money rather than spend it immediately. This is because money can be saved and exchanged at a later date for goods and services. Money is used to measure the value of goods and services in an economy. Money is also used as a medium of exchange, that is, money is exchanged for goods and services. Money facilitates trade. However, not all individuals have equal resources. The trend of borrowing money from instant loan apps is significantly increasing. Reading https://fitmymoney.com/best-installment-loans/ article is suggested for those who want to learn about the best installment loans. I am sure this article will provide the answers to many of your questions.

Money is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account. I think this is a part of our system and nuture which provides the role give and take. Relevant templates will download from https://masterbundles.com/templates/presentations/powerpoint/nature/ this source. The most important function of money is its role as a medium of exchange. In order for money to be exchanged for goods and services, it must be easily identifiable, portable and divisible.