John is employed as a barista in a local coffee house. He receives a salary of 10,000 AED monthly. For each of the following situations described identify which functions of money is emphasized and explain clearly the importance of the function to the economy.   (a). John used 3000 AED to pay his rent (b). John put aside (in a savings account) 4000 AED. He is hoping to save the required deposit on a one-bedroom apartment he hopes to buy (c). John is in a store keenly comparing the prices on different brands of TVs he hopes to purchase.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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John is employed as a barista in a local coffee house. He receives a salary of 10,000 AED monthly. For each of the following situations described identify which functions of money is emphasized and explain clearly the importance of the function to the economy.

 

(a). John used 3000 AED to pay his rent

(b). John put aside (in a savings account) 4000 AED. He is hoping to save the required deposit on a one-bedroom apartment he hopes to buy

(c). John is in a store keenly comparing the prices on different brands of TVs he hopes to purchase.

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