Define the functions of money in a proper way.    I need answer in your words

Q: Currently, can cryptocurrency perform the three functions of money. Explain briefly.

A: Cryptocurrencies are a new type of investment. This type of investment does not require a…

Q: What are the THREE basic functions of money? as a commodity as a store of value as a barrier to…

A: Money - It is a legal tender accepted as payment for goods and services. It is accepted for…

Q: What is the primary function of money. Explain in detail . No plagiarism allowed. Thankyou

A: Money is the medium of exchange between the buyers or sellers such that buyers buy the commodity and…

Q: Money is any commodity or token that is​ _______. Money consists of​ _______.

A: Money is any item or verifiable record that is generally accepted as payment for goods and services…

Q: A main difference between using cigarettes and using dollars as money is that    have intrinsic…

A: Intrinsic value : The inherent value of an object or commodity that is not based on its monetary or…

Q: While the government prints currency, the rest of our money is created by the banks. How do banks…

A: The mechanism of money creation is the flow of bank-to - bank reserves, with each bank using surplus…

Q: Identify and briefly explain the four specific functions of money that economists have identified?

A: Medium of Exchange: The medium of exchange used to facilitate the buying and selling of goods and…

Q: Why have some economists described money during ahyperinflation as a “hot potato” that is quickly…

A: Hyperinflation is a condition in which a country experiences a very high rate of inflation. For…

Q: Define the functions of money. Explain in detail. Thank you.

A: Money is any tangible item or verifiable document that is regularly accepted as payment for goods…

Q: Write a post that explains why money is not the universal measure of all value.

A: Money is the major consideration for all the people in today’s world. Without money the people…

Q: Why is money necessary in an economy? What are its functions and how is it created?

A: Money is the source which helps in buying goods and services. It works as a medium of exchange which…

Q: What is the difference between commodity money and fiat money? Is there a scenario you can think of…

A: Money is used for exchange purposes. Money is also used as unit of account and store of value.

Q: Suppose you’re at the mall shopping for a pair of shoes and run into NBA player LeBron James. You…

A: Money is any satisfactory that is comprehensively used and recognized in trades including the…

Q: Money is a means of lowering the transaction costs of making exchanges. Do you agree or disagree?…

A: In economics, money is an important economic unit that is used to carry daily transactions and for…

Q: In the United States, which of the following systems was established to be in charge of money?Choose…

A: The United States of America's central bank is the Federal Reserve which is also known as the Fed.…

Q: How does the existence of money simplify the process of buying and selling?

A: Money: It is a medium used for exchange.

Q: Views on electronic money, or e-money, and digital cash

A: Money is a medium of exchange and is accepted as payment of any product or service.

Q: What is the two main money functions

A: Money is a value system that permits things to be exchanged in an economy. Using money, as opposed…

Q: What does it mean to say that banks create money? Carefully Explain.

A: The financial institution that provides various financial services including wealth management and…

Q: Describe the evolution of money, that is looking at bartering to modern day Money. In your…

A: The money is a commodity which has generally been accepted as a means of exchange and is generally…

Q: Which of the criteria for being used as money in a modern society does each of the following not…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Why were cowrie shells considered a good form of money for centuries a. They are durable b. They are…

A: Money/currency refers to that  common medium of exchange which has certain properties like :…

Q: a) Describe our society at present if it doesn’t use money. b) How the transactions would be if…

A: Money: It refers to the cash used by the people for doing the various transaction in an economy.…

Q: Answer in no more than 5 sentences. In your opinion, which is more convenient for you to use:…

A: Cash: Cash is a bill that is used to acquire any good or service. Cash can be in the form of coins…

Q: Explain the concept of Commodity Money

A: Money is a liquid asset used to settle transactions. It works on the basis that its value is…

Q: What is money? What are the functions of money? What items may serve as money?

A: "Since you have asked the question with multiple subparts, we will solve the first three subparts…

Q: Can you describe the functions of money?

A: Money is something which is socially appropriate as a medium of exchange and can be transformed into…

Q: Describe in detail the three functions of money in an economy

A: In an economy, money is a widely accepted medium of exchange that serves as a unit of account and a…

Q: What is the supply, demand, and price of money?

A:

Q: Why can fiat money be successfully used as a currency despite the fact that it has no intrinsic…

A: The money of any type, when used or circulated as a means of trade, particularly rotating notes and…

Q: What is fiat money? Give some examples.

A: Fiat Money refers to the currency that has legal tender by the decree of the government and is not…