1. The roles of money Clancy is heading out to lunch. He goes to the bank and withdraws $30 from his savings account. He heads to a local deli that sells half sub sandwiches for $5.99 and whole subs for $8.99. Clancy decides that he's pretty hungry and goes for the whole. He pays with a $10 bill and tells the cashier to keep the change. Identify what role money plays in each of the following parts of the story. Hint: Select each role only once. Medium of Exchange Unit of Store of Account Value о Role of Money Clancy can easily determine that the whole sandwich, while twice as long as the half, is priced at less than twice as much. Clancy accumulates money in his savings account for future purchases. Clancy buys his lunch with a $10 bill. о olo о 00
1. The roles of money Clancy is heading out to lunch. He goes to the bank and withdraws $30 from his savings account. He heads to a local deli that sells half sub sandwiches for $5.99 and whole subs for $8.99. Clancy decides that he's pretty hungry and goes for the whole. He pays with a $10 bill and tells the cashier to keep the change. Identify what role money plays in each of the following parts of the story. Hint: Select each role only once. Medium of Exchange Unit of Store of Account Value о Role of Money Clancy can easily determine that the whole sandwich, while twice as long as the half, is priced at less than twice as much. Clancy accumulates money in his savings account for future purchases. Clancy buys his lunch with a $10 bill. о olo о 00
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Transcribed Image Text:1. The roles of money
Clancy is heading out to lunch. He goes to the bank and withdraws $30 from his savings account. He heads to a local deli that sells half sub
sandwiches for $5.99 and whole subs for $8.99. Clancy decides that he's pretty hungry and goes for the whole. He pays with a $10 bill and tells the
cashier to keep the change.
Identify what role money plays in each of the following parts of the story.
Hint: Select each role only once.
Medium of
Exchange
Unit of
Store of
Account
Value
о
Role of Money
Clancy can easily determine that the whole sandwich, while twice as long as the half, is
priced at less than twice as much.
Clancy accumulates money in his savings account for future purchases.
Clancy buys his lunch with a $10 bill.
о
olo
о
00
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