Money is defined as any good that _________________ and ___________________.
A) can be used for the repayment of debt; can be used as a store of value
B) is widely accepted for purposes of exchange; the repayment of debt
C) can serve as collateral when applying for a loan; can be used to start a business
D) is widely accepted for purposes of exchange; can be used when making credit decisions

Question

Quizplus · Accepted Answer

Money is generally accepted by society as a medium of exchange for goods and services. It also serves the function of being a unit of account, meaning that it is used as a standard measure of value for goods and services. While money can be used to pay off debts, it is not solely defined as such. Money can also take on the function of being a store of value, meaning that it can be saved and used for future purchases. Therefore, the best choice is B, as it captures the two primary functions of money: being widely accepted for purposes of exchange and being used as a store of value.

Money Is Defined as Any Good That _________________ and ___________________

Money Is Defined as Any Good That _ and ___