For a college student who needs to buy an $80 textbook, the money she received from her parents for the purchase of school supplies would be used as a:

Answer :

The money she received from her parents for the purchase of school supplies would be used as a medium of exchange.

What is money?

Money is anything that is generally chosen and accepted by a community, as a medium of exchange and standard of value.

Characteristics of money are:

  • Medium of exchange
  • Store of value
  • Measure of value

Hence, the money she received from her parents for the purchase of school supplies would be used as a medium of exchange.

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