Praxis II Citizenship

Answer: D - Barter regulation is not one of the three primary uses of money. In fact, people exchange money for goods and services specifically to avoid bartering. Money is a symbol of power-the power to acquire goods from another person or initiate someone else’s action (services). In this way, every coin, bill or commodity is a store of value like a savings account. Just as a savings account is a reserve of money for future use, money is a reserve of power for future use. Money also represents or symbolizes the value of something, be it a good, a service, labor, etc. Using money as an accounting unit allows people to apply a universal system of value to all goods, services, profits, losses, future potential, etc. Money is an exchange medium in that it is used to compensate labor, settle debts, and acquire goods and services.