Nicholas is saving money collected from his paper route in order to purchase a new bicycle. His saving represents using money as
A) a store of value.
B) an unit of account.
C) a medium of exchange.
D) none of the above

Question

Quizplus · Accepted Answer

Nicholas is using money as a store of value because he is saving it to purchase a new bicycle in the future, which means he is keeping it until its value is needed. Money can be used as a store of value, unit of account, and medium of exchange, but in this scenario, only the store of value applies.

Nicholas Is Saving Money Collected from His Paper Route in Order