When you bought your textbook for this course, you were using money as a
A) medium of exchange.
B) price mechanism.
C) unit of account.
D) store of value.

Question

Quizplus · Accepted Answer

When the student bought their textbook for this course, they were using money as a medium of exchange - they gave the seller money in exchange for the textbook. Money serves as a medium of exchange because it is readily accepted in transactions of goods and services. The other options, B) price mechanism, C) unit of account, and D) store of value, are all functions of money but do not apply to the specific transaction of buying a textbook.

When You Bought Your Textbook for This Course, You Were