Which of the following is NOT considered a function of money in an economy?

• A. Means of production
• B. Medium of exchange
• C. Unit of account
• D. Store of value

Answer: (A)

Verified step by step guidance

1. Step 1: Understand the primary functions of money in an economy. Money typically serves three main functions: Medium of exchange, Unit of account, and Store of value.
2. Step 2: Define each function: Medium of exchange means money is used to facilitate transactions between buyers and sellers; Unit of account means money provides a common measure to value goods and services; Store of value means money can preserve value over time for future use.
3. Step 3: Analyze the option 'Means of production' and recognize that it refers to physical assets like factories, machinery, and tools used to produce goods, which is not a function of money but rather a factor of production.
4. Step 4: Compare all options and identify that 'Means of production' does not fit as a function of money, unlike the other three options which are standard functions of money.
5. Step 5: Conclude that 'Means of production' is NOT considered a function of money in an economy.