‘People save money in various forms to meet contingencies, unpredictable emergencies and to pay future debts’.
‘People save money in various forms to meet contingencies, unpredictable emergencies and to pay future debts’. Which function of money is being highlighted in the given statement?
(a) Standard of Deferred Payments
(b) Store of Value
(c) Measure of value
(d) Medium of Exchange
Anurag Pathak Changed status to publish December 15, 2023
Ans – (b)
Explanation:-
Store of value function of money:-
Money as a store of value means that money can be used to transfer purchasing power from present to future.
Money is a way to store wealth.
It provides security to individuals to meet contingencies, unpredictable emergencies and to payy future debts.
Anurag Pathak Changed status to publish December 15, 2023
