Question

State with reason whether you Agree or Disagree with the following statement:

Many tasks are accomplished by money.

Options

• Agree

• Disagree

Answer 1

Yes, I agree with this statement.

Reasons: 

1. Primary Functions of money : Money performs primary functions as a medium of exchange and a measure of value.
2. Secondary functions of money : It performs secondary functions of standard of deferred payments, store of value and transfer of value.
3.  Contingent functions of money : It also performs contingent functions of estimating and dividing national income, providing basis of credit, imparting liquidity to wealth and estimating macroeconomic variables.