Which of the following best defines a money market account?

A money market account is typically defined as a type of savings account that offers higher interest rates compared to regular savings accounts, while allowing for limited check writing and certain types of transactions. This combination makes money market accounts attractive to consumers looking for a safe place to earn a higher yield on their savings, while still having some flexibility in accessing their funds.

Money market accounts usually require a higher minimum balance to open and maintain than standard savings accounts, which aligns with the characteristics mentioned in the correct choice. The ability to write checks and transfer funds from the account provides the account holder with additional liquidity, albeit with limitations on the number of transactions that can be made in a month.

In contrast, the other options do not accurately represent a money market account. For instance, a higher risk investment account for stocks does not fit the description, as money market accounts are generally low-risk and focus on preserving capital. Similarly, a checking account without any withdrawal limits does not describe a money market account's structured nature regarding withdrawals and transactions. Lastly, an account that only earns low fixed interest fails to capture the higher interest potential typical of money market accounts, which is a primary reason individuals choose these accounts over traditional savings options.