This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: when broken down to smaller units. The monetary amount must remain the same in value. Money that is reliably stored, saved, and retrieved is known as money of a store value. Money of a store value must be able to be used as a medium of exchange when it is retrieved. The value of the money retrieved must also remain stable. Money as a standard of deferred payment is also a function of money. A standard of deferred payment is typically a way of settling ones debt. To defer a payment usually means that the payment of a debt is not usually due immediately, but rather some set time in the future. Using the deferred payment method allows for the purchaser of a good or service to receive the good ro service before the entire debt is paid. Sometimes this may require a particular percentage to be paid before rendering services or items....
View Full Document
This note was uploaded on 02/11/2011 for the course XECO 212 taught by Professor Cohen during the Fall '10 term at University of Phoenix.
- Fall '10