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Answer:
Credit Card: medium of exchange and store of value
A Rembrandt painting: store of value
A subway token: medium of exchange, store of value and unit of account
Cigarettes in a POW Camp: unit of account
Explanation:
Money is the product of the material, social and cultural interests of all in modern times. Economic and cultural relations between people, nations, countries are made through money. Exchange of money is called commodity turnover. The Golden Circle existed before the First World War. Real money substitutes include: Metal coins, gold coins, billiards, small coins made of cheap metal;
Paper value badges are usually made of paper. There is a difference between paper and credit money.
Money can be in two forms:
- cash
-cashless
Credit Card: is medium of exchange because you can exchange with this a goods or services. It can be considered as store of value because the ability of storing the debt in it.
A Rembrandt painting is store of value because as time passes, it will be more expensive as usual.
A subway token can be considered in 2 conditions: if we think outside of subway, it is just store of value, in subway, it can be medium of exchange( you can convert it cash) and unit of account .
Cigarettes in a Pow camp will be exactly the unit of account. Because it will be the money in prison situation and can be bartered or purchased .
Money is the product of the material, social and cultural interests of all in modern times. Economic and cultural relations between people, nations, countries are made through money. Paper value badges are usually made of paper. There is a difference between paper and credit money.
The correct functions of money to each example below are:
- Credit Card: It is termed as the medium of exchange because it aids the customers to purchase the goods and services and post-pay the money for consumption.
- A Rembrandt painting is stored of value because it becomes expensive with the passing of time.
- A subway token can be regarded in 2 conditions: In one way it is just a store of value, on the other hand, it can be a medium of exchange and unit of account.
- Cigarettes in a Pow camp is the unit of account.
To know more about the function of money, refer to the link below:
https://brainly.com/question/8345559
