If your roommate is considering purchasing cryptocurrency, as they believe it can be used in place of money. The roles that cryptocurrency would need to satisfy in order to be considered and effective type of money is: Store of value.
A store of value can be defined as the something of value that can be saved which inturn can help to add more value to someone after been exchanged. This implies that the assets store does not depreciate or wear out but instead it help to add value to the owner of it.
Example of store of value is money based on the fact that money has a store of value because it is an asset that a person can invest as well as store in the bank or financial institution
This money store can be retain it buying power power as it can be used to purchased or buy things in the future.
Therefore the correct option is C.
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The complete question is:
your roommate is considering purchasing cryptocurrency, as they believe it can be used in place of money. what roles would cryptocurrency need to satisfy in order to be considered and effective type of money?
backed by a commodity
have a physical presence
store of value
unit of account
medium of exchange
