Economics Multiple Choice Question – 29 March 2022

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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Lucy sells cakes for £100. Alex offers online economics tutoring for £200 per hour.

One hour of Alex’s top-class economics tutoring is worth two of Lucy’s excellent cakes.

Which function of money is being illustrated?

Select ONE answer:

  1. medium of exchange
  2. standard of deferred payment
  3. store of value
  4. unit of account

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Economics KS4 and KS5 classes.

The answer is 4

  1. Not correct
  2. Not correct
  3. Not correct
  4. Correct

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