Which of the following is NOT a function of money? MCQ with Answer and Explanation

Which of the following is NOT a function of money?
A. Medium of exchange
B. Unit of account
C. Store of value
D. Means of production
Answer: Option D
Solution (By JKSSB Mock Tests)
The primary functions of money are medium of exchange, measure of value (unit of account), store of value and standard of deferred payments. Means of production is not a function of money.

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Practice More Economy Set 1 Questions

Question #1
The 'Multilateral Investment Guarantee Agency' is a member of the:
A. WTO
B. OECD
C. IMF
D. World Bank Group

Correct Answer: Option D


Explanation:
MIGA is a member of the World Bank Group.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'Foreign Direct Investment' policy in India is formulated by:
A. RBI
B. NITI Aayog
C. SEBI
D. Department for Promotion of Industry and Internal Trade

Correct Answer: Option D


Explanation:
FDI policy is formulated by the Department for Promotion of Industry and Internal Trade.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'National Income Committee' was chaired by:
A. P.C. Mahalanobis
B. D.R. Gadgil
C. C.R. Krishnaswamy
D. V.K.R.V. Rao

Correct Answer: Option A


Explanation:
The National Income Committee was chaired by P.C. Mahalanobis.

This question belongs to: Economy GK Economy Set 1