For an asset to be considered money,it must be:

Question

Quizplus · Accepted Answer

An asset can only be considered money if it performs three basic functions: it must act as a medium of exchange (meaning it can be traded for goods and services), it must be a standard unit of account (meaning it is used to measure the value of other goods and services), and it must be a store of value (meaning it can be saved and used later). Any asset that meets these criteria can be considered money. The other choices are not accurate: availability and designation by law do not necessarily determine whether something is money, fiat money is a type of money but not the only kind, and backing by a commodity is not necessary for an asset to be considered money.

For an Asset to Be Considered Money,it Must Be