Money eliminates the need for a coincidence of wants primarily through its use as a:
A)unit of account.
B)medium of exchange
C)store of value.
D)standard of confidence.

Question

Quizplus · Accepted Answer

Money primarily eliminates the need for coincidence of wants through its use as a medium of exchange, meaning that it can be used to facilitate transactions between parties who may not have the same desired goods or services. A unit of account refers to a common measurement system for the worth of goods and services, while a store of value is the ability for money to hold its worth over time. A standard of confidence is not a term commonly used in reference to the functions of money.

Money Eliminates the Need for a Coincidence of Wants Primarily