Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Functions of Money
Money performs several important functions. It serves as a medium of exchange, a unit of account, a store of value and a standard of deferred payments. In addition, money performs certain other function also.Primary Functions(1) Medium of Exchange: The most important function of money is that it serves as a medium of exchange or means of payment. For most purchases or sales, money is accepted as purchase and sales to be conducted independently of one another. The purchase of one good does not require the simultaneous sale of another, as is the situation in a barter system. Hence, money facilitates the exchange of goods and services.(2) Measure of Value: The second important function of money is that it can act as a common measure or standard of value or the unit of goods and services. In measuring distance, the metre or foot is the unit of account. By reducing the value of all goods and services to a single unit of account the process of exchange is enormously simplified. Money thus becomes a common denominator. Economists call this aspect of money as unit of account function.
the diagram used to illustrate of abnormal and normal profits
little kona is company that is considering enter a market by big brew
3, chapter 12
Use of Resources - INTERNATIONAL MONETARY FUND: IMF provides temporary assistance to member-countries to tide over balance of payments deficits. When the country requires fore
use of diagram how the price mechanism operates to allocate scarce resources. use examples to illustrate the answer.
given that a=(4;2) and b=(5;11)determine the value of x in the following equation b=3x-1/2a
do you agree that according to econmy theory a business will always close if its total reveneu cover total costs
what are the main properties and assumptions of indifference curve
Factors of Production Factors of production are the resources that are utilized to manufacture goods and services: 1. Natural resources: The things developed by acts of n
Three factors that determine demand for coffee and tea
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd