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Money - This is not a normal practice in today’s society...

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Money Week 6 Day 3 Amanda Szary
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Unit of Account: This is the function of money that refers to the fact that the price of different items is expressed in a common unit. Here in the United States are expressed in the amount of dollars. An example of this would be that the price of soda is $1.50 a bottle while a gallon of gas is $4.05. Without using the unit of account approach people could say that bottle of soda and a gallon of gas are 37% different from each other. This would not be as easy to figure out how much each of them is. Medium of exchange: There are some different ways to call the medium of exchange. Some say that it can be anything that is accepted as payment for something. An example of this would be back in the earlier days people would do different jobs for something else, such as mowing grass for a vehicle being worked on.
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Unformatted text preview: This is not a normal practice in today’s society since there is no money being exchanged; most people want to actually be paid with money for something being done. There are some people who will even argue that a check and credit card is not an actual payment since it is not actual money. They money is not received until the money is actually sent from the bank to the location. Store of value: This is an item that will hold its value over time. A car is a good example of this, yes there is a decline in the value but you can always plan on getting money out of the item. Money is a better example of it because it always equals the same amount when it was made even 20 years later....
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