When a shop puts a price tag of ₹450 on a shirt, money is serving as

a unit of account (measure of value)Correct answerYour answera medium of exchangeCorrect answerYour answera store of valueCorrect answerYour answera standard of deferred paymentCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer A

Correct answer: A

The price tag measures the shirt's value in rupees; nothing has been paid yet.

Concept: Unit of account
Typical timeTypical: 40 s
Your timeYours: —

The rule this testsFunctions of money

Practise this chapter →

Ten questions from Money and Its Functions, at your own pace.

Practise this chapter →

Ten questions from Money and Its Functions, at your own pace.

Practise this chapter All 57 questions in Money and Its Functions Revise the notes for Money and Its Functions

When a shop puts a price tag of ₹450 on a shirt, money is serving as

Explanation