An employee keeps part of her wages unspent so that she can use it after she retires. Separately, a credit agreement allows a household to repay borrowed money in monthly instalments next year.
Which two functions of money are illustrated, in the order given?
Store of value followed by means of deferred payment
Means of deferred payment followed by store of value
Store of value followed by medium of exchange
Medium of exchange followed by means of deferred payment
60 exam-style questions on AQA GCSE Economics 2.5 The role of money and financial markets, covering 2.5.1a Functions of money, 2.5.1b Definition of money, 2.5.2a Agents in the financial sector, 2.5.2b The role of the Bank of England, and 2.5.2c The role of high street banks. Each one has a worked solution and a mark scheme showing where the marks go.