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Question
‘Money is an asset which can be stored for use in future.
In the light of given statement, identify the function of money.
Options
A measure of value
A standard of deferred payment
A store of value
A medium of Exchange
Solution
A store of value
Explanation:
Money can be saved in the form of a savings account, a fixed deposit, gold, shares, bonds, property, and so on for future use, with the value increasing with time. It enables people to postpone eating up to a later date.
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