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

Question

Quizplus · Accepted Answer

When you bought the textbook for this course, you used money as a medium of exchange, meaning you traded money (cash or card transaction) in exchange for the textbook. Money as a store of value refers to the ability of money to hold its value over time, unit of account is the function of money in which it serves as a standard measure of value in the economy, and price mechanism refers to the interaction of supply and demand that determines prices in the market economy.

When You Bought Your Textbook for This Course, You Were