The function of money which makes division of labour possible is its
ECONOMICS
JAMB 2010
The function of money which makes division of labour possible is its
- A. unit of account
- B. store of value
- C. medium of exchange
- D. standard of deferred payment
Correct Answer: C. medium of exchange
Explanation
The most important function of money is that it serves as a medium of exchange. By serving as a convenient medium of exchange, money has made division of labour or specialization possible by being generally acceptable
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *