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4.2.4.1 Structure of financial markets & financial assets
The characteristics and functions of money.
Functions of money
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Four main functions of money
Medium
of
exchange
Store
of
value
Unit
of
account
Standard
of
deferred
payment
Medium of exchange
Money is used to allow the
exchange
of
goods
and
services
to happen
Store of value
Money's value must be
maintained
over
time
so it can be
saved
and
used
later
Unit of account
Money allows the
value
of different
goods
and
services
to be
compared
Standard of deferred payment
Money enables
payments
and
debts
to be
deferred
or
paid
in the
future
