Which among the following is considered to be the contingent function of money?
Answer & explanation
Correct answer: option 4
There are 3 functions of money primary, secondary and contingent functions.
Primary functions are known as original functions. They are medium exchange and measure of value. Secondary functions include standard of deferred payments, store of value and transfer of value. Contingent functions cover distribution of income, measurement and maximization of utility.
Primary functions are known as original functions. They are medium exchange and measure of value. Secondary functions include standard of deferred payments, store of value and transfer of value. Contingent functions cover distribution of income, measurement and maximization of utility.