Nicholas is saving money collected from his paper route in order to purchase a new bicycle. His saving represents using money as
A) a medium of exchange.
B) a store of value.
C) an unit of account.
D) none of the above

Question

Quizplus · Accepted Answer

Nicholas is saving money for a future purchase, which demonstrates money's function as a store of value. This means he is holding onto money to transfer purchasing power into the future.

Nicholas Is Saving Money Collected from His Paper Route in Order