functions of money

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what are the four functions of money
unit of account , means of exchange , store of value , legal tender
1 of 5
what is unit of account
allows you to give a value on goods and services
2 of 5
what is means of exchange
it allows us to trade
3 of 5
what is store of value
it allows us to use it in the future as it keeps its value
4 of 5
what is legal tender
legally recognised form of payment i.e. coins and notes
5 of 5

Other cards in this set

Card 2

Front

what is unit of account

Back

allows you to give a value on goods and services

Card 3

Front

what is means of exchange

Back

Preview of the front of card 3

Card 4

Front

what is store of value

Back

Preview of the front of card 4

Card 5

Front

what is legal tender

Back

Preview of the front of card 5

Comments

Bradberry

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