WAEC Economics 2024 Objective — Question 36
Question 36 of 50 from the West African Examinations Council (WAEC) Economics 2024 Objective paper, with the correct answer and a full explanation.
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36. The function of money that enables credit purchases of goods and services is
- A. unit of account.
- B. store of value.
- C. standard for deferred payment.Correct
- D. relative scarcity.
Explanation
Money acting as a standard for deferred payment makes it possible for payments for goods to be made in the future, enabling credit purchases.
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