When money is used to purchase a good or service it is serving the role of a
A)unit of account.
B)store of value.
C)medium of exchange.
D)unit of standard.

Question

Quizplus · Accepted Answer

When money is used to purchase a good or service, it is serving the role of a medium of exchange, facilitating the transaction between the buyer and the seller. Unit of account refers to the function of money in measuring the value of goods and services, while store of value refers to the function of money as a means of maintaining purchasing power over time. Unit of standard is not a commonly recognized function of money.

When Money Is Used to Purchase a Good or Service