In commercial economics, money performs distinct functions and possesses specific physical characteristics that facilitate trade. Match each money concept on the left with its corresponding real-world business scenario on the right.
- DivisibilityA customer pays the exact price for a small item without losing purchasing value or overpaying.
- Medium of exchangeA consumer hands over currency notes to receive a commodity, avoiding the need for a double coincidence of wants.
- Standard of deferred paymentA trader purchases inventory on credit today and settles the invoice three months later.
- Unit of accountA shopkeeper displays price tags in Naira across all store goods to enable easy value comparison.
Cevap
Divisibility matches with paying exact price for small items; Medium of exchange matches with handing over currency to receive goods without needing double coincidence of wants; Standard of deferred payment matches with purchasing inventory on credit to settle later; Unit of account matches with displaying price tags for value comparison.
Each concept correctly aligns with its commercial application: Divisibility allows exact change payments; Medium of exchange solves the double coincidence of wants problem; Standard of deferred payment enables credit purchases and future debt settlement; and Unit of account establishes a standardized measure of price.
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Anahtar Kavram
Functions and Characteristics of Money
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