00:01
Problem number fifth, in this given question, we have to discuss the following situations and identify the function of money, which is emphasized.
00:14
In case first, a brook accepts money in exchange for performing her daily task at her office since she knows she can use that money to buy goods and services.
00:26
This illustration this situation illustrates the medium of exchange function of money function of money we often do not think why we accept money in exchange money in exchange for hours spend for working as we are so accustomed to using money.
02:29
The medium of exchange, the medium exchange function of money refers to its ability to facilitate facilitate traders, sorry, facilitate trades.
03:32
Ours worked for money and then money for groceries in our society.
04:18
In this situation, tim wants to calculate the relative value of oranges and apples.
04:28
And therefore checks the price per point of each of these goods as quoted in currency units.
04:39
In this case, we observe money performing its units, its units of account of account function...
