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Top 2 Functions of Money | Economy

In this article we will discuss about the primary, secondary and contingent functions of money. 1. Primary Functions: These are the fundamental (or basic) functions of money and include the following: a. Medium of exchange: The most important function of money is that it is a common medium of exchange. Due to the introduction of money, commodities are not exchanged [...]

By |2017-01-13T05:55:17+05:30January 13, 2017|Functions|Comments Off on Top 2 Functions of Money | Economy

Top 4 Functions of Money – Discussed!

The following points highlight the top four functions of money. The functions are: 1. A Medium of Exchange 2. A Measure of Value or Unit of Account or Means of Valuation 3. Store of Value 4. Standard of Deferred Payment. Function # 1. A Medium of Exchange: Money serves as a medium of exchange for all kinds of goods and [...]

By |2016-01-29T10:22:15+05:30January 29, 2016|Functions|Comments Off on Top 4 Functions of Money – Discussed!

Top 6 Functions of Money –Discussed

The following points highlight the top six functions of money. Function # 1. A Medium of Exchange: The only alter­native to using money is to go back to the barter system. However, as a system of ex­change the barter system would be highly impracticable today. For example, if the baker who supplied the green-grocer with bread had to take payment [...]

By |2015-10-26T12:48:33+05:30October 17, 2015|Functions|Comments Off on Top 6 Functions of Money –Discussed
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