What are the two features of money that distinguish it from all other goods in the economy?

Question

Quizplus · Accepted Answer

Money is distinguished from other goods by its dual function as a medium of exchange and a unit of account. Money is accepted widely in exchange for goods and services and is used as a common measure of value for all goods and services. These features allow for the ease and efficiency of transactions in the economy. Option A is incorrect because money is not necessarily redeemable for gold or silver. Option C is incorrect as barter transactions do not involve money. Option D is incorrect as money cannot be traded for other currencies at a guaranteed exchange rate as exchange rates fluctuate.

What Are the Two Features of Money That Distinguish It