6 Questions
What is the primary function of money as discussed in the text?
Medium of exchange
Which function of money refers to the ability to hold it temporarily and exchange it for goods and services later?
Store of value
What would be the consequence if an economy relied solely on barter instead of using money?
Need for a double coincidence of wants
Which type of money includes currency, traveler's checks, and checking deposits in its definition?
M1
In the context of Bangladesh, what does 'M2' represent?
M1 plus time, saving deposits, and other deposits
Which function of money allows for easier comparison of the prices of different goods and services?
Unit of account
Explore the concept of money and its functions such as medium of exchange, unit of account, and store of value. Learn about the importance of money as a means of payment and its role in settling debts.
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