What is meant by the term store of value?

The term "store of value" refers to an item that preserves purchasing power for future use, which aligns perfectly with the provided answer. This concept is vital in economics because it signifies that a certain asset can maintain its value over time, allowing individuals to save and utilize that value in the future.

For example, money serves as a store of value because it can be kept without deteriorating and can be used later to purchase goods and services. Its effectiveness as a store of value depends on its stability and the economy's overall health.

When considering the other options, while they may relate to value or assets, they do not encapsulate the essence of a store of value as directly as the correct answer does. An asset that can be easily resold focuses on liquidity or marketability rather than preservation of value over time. A product that maintains its value over time hints at the idea but does not explicitly mention purchasing power, which is critical to the definition. A service that can be bartered for goods veers away from the financial concept entirely and does not imply preservation for future purchasing. Consequently, the most accurate and comprehensive definition rests with the second choice.