Answered

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Which of the following functions of money enables society to gain the benefits of geographic and
labor specialization?
medium of deferred payment
unit of account
store of value
medium of exchange

Sagot :

GinnyAnswer

Final answer:

Money as a medium of exchange enables geographic and labor specialization, serves as a store of value, and acts as a unit of account.


Explanation:

Money serves three primary functions: medium of exchange, store of value, and unit of account. The medium of exchange function allows money to facilitate the exchange of goods and services, promoting geographic and labor specialization. Additionally, as a store of value, money retains its worth over time enabling savings and investment. Lastly, as a unit of account, money serves as a common measure of value to express prices uniformly.


Learn more about Functions of Money here:

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