Money functions as a medium of exchange, a unit of account, and a store of value.

Question

Quizplus · Accepted Answer

This is true. Money serves as a medium of exchange because it enables people to exchange goods and services for something that is widely accepted. It also serves as a unit of account because it allows people to measure the value of goods and services in a standardized way. Finally, money serves as a store of value because it can be held and used to make future purchases or investments.

Money Functions as a Medium of Exchange, a Unit of Account