Practicing Success
Garima said to Shishma, " I think we should save 10% of the salary for future use". Which function of money is Garima talking about?
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Unit of payment Medium of exchange Standard of deferred payment Store of value |
Store of value |
In barter system, there was a problem of storage of the surplus commodity. After a certain period of time the goods produced would become waste. But, with evolution of money this problem was solved because it brought "Store of value" with it. As, Garima can save the money now and use it in future we can say that the function of money which she is talking about is "Store of value" |