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Topic Content:
- Functions of Money
- Characteristics of Money
Functions of Money:
1. Medium of Exchange: This is the primary function of money, a means of payment for goods and services as well as settlement of debt.
2. Measurement of Value and Unit of Account: It helps in putting prices or values to goods and services, and also helps in keeping financial records of all business transactions. The real value of money is what it can buy at a particular time.
3. Store of Value: This makes the
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