As a ________,money is used to define prices of all other goods.
A)unit of account
B)medium of exchange
C)store of value
D)fiat money

Question

Quizplus · Accepted Answer

Money is used as a unit of account to measure the value or price of all goods and services in an economy. It provides a common standard for comparing the values of different goods and facilitates trade by enabling buyers and sellers to agree on prices. A medium of exchange refers to the function of money as a commonly accepted means of payment, while a store of value refers to its capacity to retain its purchasing power over time. Fiat money is a currency that has no intrinsic value and is not backed by a commodity such as gold.

As a ________,Money Is Used to Define Prices of All