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Economics

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Miscellaneous

 

Written by:

Joseph L

 

Date added:

January 10, 2013

 

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A

 

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4 / 970

 

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Money makes specialization easier. The second function of money is unit of accounting which is defined as, “A measure by which prices are expressed; the common denominator of the price system; a central property of money” (Miller 338). The third function of money is store of value which is the ability to hold value over time...
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The third function of money is store of value which is the ability to hold value over time. It is a necessary function because it is important to set your money aside to purchase things later on. The fourth function of money is standard of deferred payment which is defined as, “A property of an asset that makes it desirable for use as a means of settling debts maturing in the future; an essential property of money” (Miller 338)...
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