Rajiv wants to both purchase a new laptop and go Florida for spring break. The computer is priced at $800, and the vacation is priced at $1,099. He has only $1,424 in his checking account, so he cannot afford to purchase both. After much thought, Rajiv buys the laptop and writes a check for $800.
Identify what role money plays in each of the following parts of the story.
Hint: Select each role only once.
Role of Money
Medium of Exchange
Unit of Account
Store of Value
Rajiv can easily determine that the price of the laptop is less than the price of the vacation.
Rajiv has $1,424 in his checking account.
Rajiv writes a check for $800.