Question

Which of the following refers to money in terms of measurement of value of all goods and services?

• A. Medium of exchange
• B. Store of value
• C. Unit of account
• D. Standard of deferred payment

Answer 1

The correct option is C

Unit of account

Kilogram is used to measure the weight of a commodity. Similarly, we consider money as a unit of account to measure the value of a commodity. Money serves as a unit of measurement for measuring and expressing the values of all goods and services.