GCEEconomicsMoney and Banking2024

The primary function that distinguishes money from all other commodities is its function as a

Astore of value
Bstandard of deferred payment
Cmedium of exchangeCORRECT
Dmeasure of value
AI
Toaster Teacher
Why the answer is C, and why the others tempt you.
The medium of exchange function is the primary and most distinguishing function of money. It is this function that eliminates the double coincidence of wants problem associated with barter trade. While money performs other functions such as store of value and measure of value, these are secondary to its role as a medium of exchange.
Want this in Pidgin, Yoruba, Igbo or Hausa? Sign up free →

Practice more Economics questions

GCE Economics has thousands more questions like this — with Worked answers on every one.