Which among the following are the functions of Money?
a. Unit of value
b. Standard for deferred payment
c. Store of value
d. Medium of exchange

Correct option is C

The Correct Answer is (C)a, b, c & d

Explanation:
Money performs four main functions in an economy, which are:

1. Unit of value: Money provides a common measure of value, allowing goods and services to be priced in a consistent manner.

2. Standard for deferred payment: Money is used to settle debts, and it allows transactions to be conducted where payment is deferred until a future date ( loans or credit purchases).

3. Store of value: Money holds its value over time, allowing individuals to save and store wealth for future use.

4. Medium of exchange: Money facilitates trade by serving as an intermediary in the exchange of goods and services.

These four functions collectively make money an essential tool in modern economies, enabling the smooth functioning of trade and economic activities.

Information Booster:

1. Unit of value: By being a common unit, money helps in comparing the value of different goods and services.

2. Standard for deferred payment: This function of money makes it easy to conduct transactions that occur over time, such as loans, where future payments are made.

3. Store of value: This property ensures that money can be saved and used at a later time, preserving purchasing power.

4. Medium of exchange: This is the primary function of money, facilitating the direct exchange of goods and services without the need for bartering.