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4 November, 20:07

In the Yap civilization of the South Pacific prior to 1920, large, heavy stones in the shape of a wheel were used as money. Which function of money was probably least served by this form of money?

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  1. 4 November, 22:10
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    medium of exchange

    Explanation:

    The four functions of money are:

    Medium of exchange : money must be widely accepted and used as a means to exchange goods. Unit of account : the price of goods is set in money units. Store of value : money can be saved because it keeps its value. Standard for deferred payments: you can borrow money and pay it back at a future date.
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