When money is accepted as payment for a good or service, it is being used as a:
A. medium of exchange.
B. store of value.
C. unit of account.
D. mechanism for transforming current purchases into future purchases.
Answer: A
Economics
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The marginal social cost of producing a good or service is the
A) cost of producing an additional unit borne by the producer. B) cost of producing an additional unit borne by people other than the producer. C) sum of the marginal private cost and the marginal external cost. D) same as marginal external cost. E) sum of the marginal private cost and the marginal external cost minus the marginal social benefit.
Economics
Why are water companies considered a natural monopoly?
What will be an ideal response?
Economics