What are the three main purposes of money? In your answer, be sure to explain why each purpose helps us to eliminate the need for bartering.

Answer:

Money serves as a medium of exchange, a unit of account, and a store of value. As a medium of exchange, money allows people to buy and sell without finding someone who has what they want and wants what they have, which is necessary in barter. As a unit of account, money provides a common way to measure and compare the value of goods and services. As a store of value, money lets people save purchasing power for later instead of having to exchange goods right away.