Social Studies, 25.12.2019 14:31 yedida

What are the three main purposes of money? in your answer, be sure to explain why each purpose us to eliminate the need for bartering.

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Answer from: yoridff

The three main purposes of money are : for the purpose of buying and selling products and services (medium of exchange), money is used to measure the value or worth of products and services and finally it is used to store wealth that is easily spent. This means that it is a liquid asset; it can be easily used to purchase goods and services. Having a tangible item such as money eliminates the need for trading exchanging one item for another in bartering.

Answer from: madelynreynolds4757

The three main purposes of money:

Unit of Accounting

Deposit of Value Means of Exchange

Money serves three main purposes. It is a unit of account, a medium of exchange, and a store of value:

Medium of Payment: Money functions as a medium of exchange when it is utilised to facilitate the exchange of commodities and services.

Unit of Accounting: A standard numerical unit of account for measuring the market value of products, services, and other transactions.

It is a standard of relative worth and postponed payment, and as such, it is a requirement for the formation of commercial debt arrangements.

Money must be divisible into smaller pieces without losing value, fungible (one unit or piece must be seen as equivalent to any other), and have a specified weight or size to be verifiably countable in order to serve as a unit of account.

Deposit of Value: Money must be reliably saved, stored, and retrieved in order to serve as a store of value.

When it is retrieved, it must be useable as a means of exchange in a predictable manner.

Furthermore, the value of money must be consistent over time.

Economists occasionally point out that money has extra roles, such as serving as a standard of deferred payment and a measure of value.

For more information about Money refer to the link:

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Answer from: Quest

imperial crisis leads to civil war.

roman forces withdraw from britain as goths attack rome.

odoacer topples romulus augustus

huns attack the empire and drive german peoples ahead of them.

Answer from: Quest

im sorry i wish i can but try google

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What are the three main purposes of money? in your answer, be sure to explain why each purpose us...