NECO Economics 2024 Objective — Question 36
Question 36 of 50 from the National Examinations Council (NECO) Economics 2024 Objective paper, with the correct answer and a full explanation.
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The function of money that enables credit purchases of goods and services is
- A. A. unit of account
- B. B. store of value
- C. C. standard for deferred paymentCorrect
- D. D. relative scarcity
Explanation
Standard of deferred payment as a function of money enables people to buy on credit and pay later. Other functions of money include measure of value, medium of exchange, input of account etc.
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