Money that is held and spent later represents a ____, or a means for retaining and accumulating wealth.

Question

Quizplus · Accepted Answer

The phrase "retaining and accumulating wealth" indicates the concept of a store of value, which is the primary purpose of money held and spent later. Choice A, denomination, refers to different values of currency, and choices B and C, near-money and common denominator, do not accurately describe the concept of retaining wealth. Choice E, standard unit, refers to the function of money as a unit of measure for prices and values, but does not address the concept of storing and accumulating wealth.

Money That Is Held and Spent Later Represents a ____