What are the three functions of money? Can something be considered money if it does not...

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What are the three functions of money? Can something be considered money if it does not fulfill all four functions? Please give an example. Would you consider Bitcoin money?

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Answer 1

Answer #1

Ans. The three main function of money are :

1) Medium of Exchange

2) Unit of Value

3) Store of Value

No , in long run , a thing would not be able to serve as money if it does not fulfill the basic functions of money.

Yes , I would consider bitcoin as money because it is a cryptocurrency ie a form of electronic cash and it even fulfills the basic conditions of money.

Best of Luck !! !!

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Answer 2

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