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Question : 1
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SECTION-A
'Money is an asset which can be stored for use in future.'
In the light of given statement, identify the function of money.
(Choose the correct alternative)
(Macro Economics)
'Money is an asset which can be stored for use in future.'
In the light of given statement, identify the function of money.
(Choose the correct alternative)
Solution:
(c) A store of value
Explanation: Money can be stored in form of Saving deposit, Fixed deposit, gold, shares, bonds, property etc. for future use whose value increases with the passage of time. It allows individuals to defer consumption to a later time.
Explanation: Money can be stored in form of Saving deposit, Fixed deposit, gold, shares, bonds, property etc. for future use whose value increases with the passage of time. It allows individuals to defer consumption to a later time.
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