Money almost always serves as the standard unit for quoting prices. This is another way of saying money serves as a:

Question

Quizplus · Accepted Answer

Money serves as a standard of value because it is used to quote prices and measure the value of goods and services. It is not a medium of exchange because it is not used to physically exchange goods and services, nor is it a store of value because it can fluctuate in value. It is not a commodity itself because its value is not based on its intrinsic value, but rather its use as a medium of exchange. Finally, it is not a means of deferred payment because it is typically exchanged at the time of the transaction, rather than being deferred.

Money Almost Always Serves as the Standard Unit for Quoting