Solved UPSC CDS/OTA Question
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Q · Money and Types of MoneyMedium · 45s
Q₁. Consider the following statements regarding the functions of money: Money serves as a medium of exchange. Money acts as a unit of account. Money serves as a store of value. Money serves as a standard of deferred payments. Which of the above statements is/are correct?
TopicMoney and Types of Money
Question Typemultiple choice
DifficultyMedium
Marking+1 / −0.33
Test Duration30 min
Q 1 / 30Next question →
Step-by-Step Solution
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These are the four essential functions of money: medium of exchange, unit of account, store of value, and standard of deferred payments. All are correct.
Final Answer: Option C — 1, 2, 3 and 4