Any item that people can use to transfer purchasing power from the present to the future is called Group of answer choices a medium of exchange. a unit of account. a store of value. None of the above is correct.

Question

Business

Fiona Kelly

9 June, 17:47

Any item that people can use to transfer purchasing power from the present to the future is called Group of answer choices a medium of exchange. a unit of account. a store of value. None of the above is correct.

+1

Answers (1)

Know the Answer?

Justice Robinson · Answer 1

(C) Store Of Value

Explanation:

When people use money to transfer purchasing power from the present into the future, it is called a Store of Value. In general, any item which satisfies this condition is called a Store of Value.

When money is used as a measure of any financial transaction, it satisfies the property of being a Unit of Account.

When it is used to purchase goods and services, it is a medium of exchange.