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Questions and Answers
What is the function of money as a unit of account?
What is the function of money as a unit of account?
Money as a unit of account means that the value of goods and services are stored and expressed or quoted with the use of a single item, usually a country's currency.
What is the role of money as a standard measure of value?
What is the role of money as a standard measure of value?
Money serves as a standard measure of value that allows people to compare the prices of different items and assess their relative worth.
How can money be used as a store of value?
How can money be used as a store of value?
Money can be stored and used for future use, allowing individuals to save or hold onto it for later.
What does money provide as a common unit of measurement?
What does money provide as a common unit of measurement?
Which term refers to the requirement that in a direct exchange of goods or services between two parties, both parties must want what the other has to offer?
Which term refers to the requirement that in a direct exchange of goods or services between two parties, both parties must want what the other has to offer?
What is the main function of money as a medium of exchange?
What is the main function of money as a medium of exchange?
What does money being generally accepted as a means of payment imply?
What does money being generally accepted as a means of payment imply?
What is the prerequisite of the barter system?
What is the prerequisite of the barter system?
