If every person is willing to accept money rather than goods and services for payment, money serves as a:
A) medium of exchange.
B) unit of account.
C) store of value.
D) coincident exchange.

Question

Quizplus · Accepted Answer

The fact that every person is willing to accept money as a payment for goods and services means that money serves as a medium of exchange, allowing transactions to occur more easily than with a barter system. Money is a widely accepted means of payment that facilitates trade and commerce across different regions and nations. The other options, unit of account and store of value, also describe functions of money, but they do not specifically relate to the ability of money to serve as a medium of exchange in the given scenario. The concept of coincident exchange is not directly related to money and payment systems.

If Every Person Is Willing to Accept Money Rather Than