Alberto is a carpenter and he needsa new saw in order to make morecabinets to sell to his buyers. To dothis, he sells a bench he has made,and uses the money to purchase anew saw.What can one conclude aboutthe function of money in thisscenario?A. Alberto is using money as ameans of deferringpayment.B. Alberto is using money as amedium of exchange.C. Alberto is using money as astore of value.D. Alberto is using money as aunit of account.

Money is anything that can be socially and legally accepted as a medium of exchange for any good or…

Alberto is a carpenter and he needs a new saw in order to make more cabinets to sell to his buyers. To do this, he sells a bench he has made, and uses the money to purchase a new saw. What can one conclude about the function of monev in this

Alberto is a carpenter and he needs a new saw in order to make more cabinets to sell to his buyers. To do this, he sells a bench he has made, and uses the money to purchase a new saw. What can one conclude about the function of monev in this

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

100%

Alberto is a carpenter and he needs
a new saw in order to make more
cabinets to sell to his buyers. To do
this, he sells a bench he has made,
and uses the money to purchase a
new saw.
What can one conclude about
the function of money in this
scenario?
A. Alberto is using money as a
means of deferring
payment.
B. Alberto is using money as a
medium of exchange.
C. Alberto is using money as a
store of value.
D. Alberto is using money as a
unit of account.

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