Question

Yakov has saved $30 per week to buy a new Blu-Ray player. He compares two different models: a Panaview that is priced at $130 and a Zony model that is priced at $140. Yakov decides to purchase the Zony Blu-Ray player for $140. Identify what role money plays in each of the following parts of the story. Hint: Select each role only once Medium of Exchange Unit of Account Store of Value Role of Money Yakov saved $30 per week. Yakov pays $140 for the Blu-Ray player. Yakov can easily determine that the Panaview model has a lower price than the Zony model. o

Answer 1

Function of Hong services I Medium of exchange money allous goods and food be traded without the need of bester System Store of volue. It means that people can love now to fond spending & in future. 3 Unt of account. It means any good and service is reporesented in terms of money. Role of money Yukow lowed $30 per werk (store of value) Yakau pays $ 140 for the Blu-Ray Player (Medium of exchange) Yako can early determine that the Panavien model has a lower price than Zony model (unit of account