Explanation:

Correct Option: (b) Explanation:  Statement 3 is incorrect: Money as a store of value is its derivative function. Supplementary notes: Money  If something wants to call itself “money” then it must ALWAYS perform following two functions, irrespective of time and place.  As a medium of exchange: Money is the medium through which goods and services are traded. Money provides ‘freedom of choice’ in purchase. You don’t need ‘double coincidence of wants.  As a measure of value: Money serves a “measure” or “unit” by which, we can measure the value of goods and services. This also helps comparing between various goods and services.  Derivative functions are derived from primary functions. Money= medium of exchange, measure of value, durable, takes little space, most liquid among all assets, readily accepted=> hence money is a reliable store of value. When you store money, you’re storing the “value” of your labour spent in production of any goods / services. This is also called “asset function” of money.