Get premium membership and access revision papers with marking schemes, video lessons and live classes.

Processing. Please wait.

Outline five reasons why money is widely used in many economies

Answer Text:
-It is used as a medium of exchange
-It is used as a measure of value
-It is used to store value
-It is used as a standard of deferred payments
-It is used in the transfer of immovable properties.
-It is used as a unit of account.