The price of an iPhone 7 is $650. What is the function of money in this context?
A) a medium of exchange
B) a means of payment
C) a unit of account
D) a measure of quality

Name: The price of an iPhone 7 is $650. What is the function of money in this context? A) a medium of exchange B) a means of payment C) a unit of account D) a measure of quality
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Question

Quizplus · Accepted Answer

In this context, money is being used as a unit of account, which means it is being used to measure and compare the value of the iPhone 7.

The Price of an IPhone 7 Is $650