Which of the following is NOT a function of money?

Prepare for your CXC Home Management Exam. Use flashcards and multiple-choice questions with hints and explanations. Get ready for success!

The correct answer, the measurement of cultural wealth, is not considered a function of money. Money serves key purposes in an economy, including being a medium of exchange, which facilitates transactions by providing a universally accepted method for buying and selling goods and services. It also acts as a store of value, allowing individuals to save purchasing power for future use, and serves as a standard of deferred payment, which enables contracts and loans to be settled over time.

Cultural wealth, while important in a broader societal context, does not fall under the primary functions of money. This concept refers to the value that different cultures place on their traditions, art, and heritage, rather than relating directly to monetary transactions and the roles that money plays in an economy. Recognizing the functions of money helps clarify the various ways it interacts with and supports economic systems, while cultural wealth occupies a different realm entirely.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy