Q.5. State with reasons whether you ‘agree’ or ‘disagree’ with the following statements
There are many secondary functions of money
yes i agree with the above statement
Secondary Functions of Money are as follows:
ii) Store of value - Money works as a store of value. Along with satisfaction of present wants, provision for satisfaction of future wants is equally important. It requires savings from the current earnings. Money is a convenient means through which savings can be done easily: According to Lord J.M. Keynes, "money is a link between the present and the future." Money serves as a store of value because money has purchasing power. It can be used to purchase real assets like land, house etc. and financial assets like shares, debentures, bonds, etc