Question : Which function of barter exchange involved huge trading cost?
 

Option 1: Double coincidence of wants
 

Option 2: Common measure of value
 

Option 3: Standard of deferred payment
 

Option 4: Store of value.
 

Question : This function has removed the major difficulty of lack of double coincidence of wants and inconvenience associated with the barter system.
 

Option 1: Medium of exchange
 

Option 2: Measure of value
 

Option 3: Store of value
 

Option 4: Standard of deferred payment.
 

Question : It refers to the simultaneous fulfillment of mutual wants of buyers and sellers.
 

Option 1: Common measure of value
 

Option 2: Lack of double coincidence of wants
 

Option 3: Standard of deferred payment
 

Option 4: Store of value
 

Question : It was difficult to use goods as a store of wealth due to perishable nature of some goods and high cost of storage. Which function of money has solved this problem.
 

Option 1: Medium of exchange
 

Option 2: Measure of value (Unit of value)
 

Option 3: Store of value
 

Option 4: Standard of deferred payment.
 

Question : This function of money has led to the creation of financial institutions.
 

Option 1: Medium of exchange
 

Option 2: Measure of value (Unit of value)
 

Option 3: Store of value
 

Option 4: Standard of deferred payment.