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Questions and Answers
What is the primary function of mediums of exchange?
What is the primary function of mediums of exchange?
- To represent ownership of assets
- To serve as a store of value
- To facilitate transactions (correct)
- To act as a measurement of worth
Which of the following is an example of a medium of exchange?
Which of the following is an example of a medium of exchange?
- An insurance policy
- A bar of gold
- A property deed
- Currency (correct)
Which characteristic is essential for an effective medium of exchange?
Which characteristic is essential for an effective medium of exchange?
- It must be easily divisible (correct)
- It must have a limited supply
- It must be durable but rare
- It must be highly volatile
Why is currency considered a good medium of exchange?
Why is currency considered a good medium of exchange?
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What is not considered a medium of exchange?
What is not considered a medium of exchange?
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