When money is used as a standard of value that allows people to compare the relative worth of various goods and services, it is serving as a A. standard of deferred payment. B. unit of accounting. C. medium of exchange. D. store of value.

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4 October, 23:53

When money is used as a standard of value that allows people to compare the relative worth of various goods and services, it is serving as a A. standard of deferred payment. B. unit of accounting. C. medium of exchange. D. store of value.

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Uriel Morgan · Answer 1

Answer: When money is used as a standard of value that allows people to compare the relative worth of various goods and services, it is serving as a "B. unit of accounting.".

Explanation: The unit of account makes it easy to make economic calculations, divide the money and know how much each of the things we want to acquire costs in terms of a single good (money).