Start learning →

Money serving as a 'unit of account' means that:

Amoney mediates every exchange
Bthe value of goods and services is expressed in monetary units
Cmoney earns interest over time
Dmoney is stored for future use
Answer & Solution
Correct answer: B. the value of goods and services is expressed in monetary units
As a unit of account, money lets the value of all goods and services be measured in common monetary units.
Practise this question with Quill — CUET UG →

Keep practising Unit 1A: Basic Economic Concepts and Production Systems

Browse all Unit 1A: Basic Economic Concepts and Production Systems questions for CUET UG, or explore more Economics topics.

Start a Unit 1A: Basic Economic Concepts and Production Systems lesson →