Something used to make payments for other goods and services as well as to measure their value is called ______________.

Question

Quizplus · Accepted Answer

Money is a medium of exchange that is widely accepted in transactions for goods and services. It also serves as a unit of account and a store of value. Contracts and IOUs are promises to pay but not a physical means of payment. Credit is a form of borrowing rather than a payment method. Barter involves exchanging goods and services directly without the use of money.

Something Used to Make Payments for Other Goods and Services