Asked by Madison Cudhea on Jun 23, 2024

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A person swaps a bag of fruits for some meat.In this case,money functions as a:

A) standard of value.
B) store of value.
C) measure of value.
D) medium of exchange.
E) counterfeit deterrent.

Standard of Value

A recognized measure that people use to set prices and make economic evaluations, such as a currency.

  • Learn the terminologies and idiosyncrasies of money, identifying its roles as an agent for economic transactions, a metric for value assessment, and a conservator of purchasing power.
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IA
Ifrah AhmedJun 29, 2024
Final Answer :
D
Explanation :
In this scenario, money is not directly used; instead, goods (fruits and meat) are directly exchanged for each other. This is a barter system, not involving money as a medium of exchange. However, the correct answer refers to the function money would typically serve in transactions. Since money is not being used in this direct swap, none of its functions are directly applied. The closest function, "medium of exchange," is incorrectly suggested by the context, as it implies the use of money to facilitate trade, which is not happening here.