Quiz for:
Understanding Functions of Money

Question 1

When is money referred to as a store of value?

Question 2

How does money's role as legal tender ensure transaction safety?

Question 3

Which money function helps in determining the more cost-effective purchase between different product sizes?

Question 4

What is the significance of money being a legal tender?

Question 5

How does money act as a means of exchange?

Question 6

Which function of money is illustrated by comparing prices per unit of different goods?

Question 7

What example illustrates money's function as a means of exchange?

Question 8

Which function of money allows individuals to compare the value of different items easily?

Question 9

How does money facilitate trade in its role as a means of exchange?

Question 10

In which function of money is its role as a universally accepted medium highlighted?

Question 11

What is an example of money functioning as a unit of account?

Question 12

Which function of money helps in pricing goods and services?

Question 13

Which function of money ensures its acceptance as a payment method in transactions?

Question 14

Why is money considered a store of value?

Question 15

What distinguishes money from perishable goods in terms of storage?