To an economist,________ is anything that is generally accepted in payment for goods and services or in the repayment of debt.
A) wealth
B) income
C) money
D) credit

Question

Quizplus · Accepted Answer

Money is the generally accepted medium of exchange for goods and services. It is a means for avoiding the inefficiency of barter system. Wealth represents the total value of all assets (tangible or intangible) owned by an individual or a community. Income represents the monetary value of all the earnings of an individual or business during a particular period. Credit represents borrowing money with an obligation to repay back with interest.

To an Economist,________ Is Anything That Is Generally Accepted in Payment