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What is money? Which of the following are functions of money? Correct Answer(s)
It provides a standard measure for prices to be quoted in.
It can be traded for goods and services.
It requires a double coincidence of wants.
It has value, so owning money allows people to hold wealth.
It provides individuals the opportunity to engage in barter.

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Nyctalus

Answer: OPTION A , B , D

Explanation: In simple words, money can be defined as any thing through the exchange of which an individual can purchase any commodity he desires and for the exchange of which he can sell any commodity he wants. Cash, coins , bank check and credit cards are modern  forms of money.

A. Money serves as a standard unit for all goods hence option A is correct.

B. Money can be exchanged for every commodity available hence option B is correct.

D. Money is non depreciable asset hence it can be stored for future use leading to increase in wealth. Hence option D is correct.

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