Types Characteristics And Functions Of Money - Economics Jamb Past Questions and Answers

Question 16 :

• JAMB 2010

The function of money which makes division of labour possible is its

A. Unit of account
B. Store of value
C. Medium of exchange
D. Standard of deferred payment

Question 17 :

• JAMB 2012

The money that commands a higher market value than its face value is called

A. Paper money
B. Standard money
C. Commodity money
D. Fiat money

Question 18 :

• JAMB 2020

The most important attribute of money is?

A. Homogeneity
B. Relative scarcity
C. Divisibility
D. General acceptance

Question 19 :

• JAMB 2021

In Nigeria, cheques are not money because ____________

A. Most Nigerians cannot identity them
B. They are not legal tender
C. There are no banks in rural areas
D. They are not generally acceptable as a medium of exchange