Asked by Alejandro Bernal on Jul 19, 2024

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When money is used to set the value of goods such as cars,DVD players,and TVs,money is serving as a

A) medium of exchange.
B) standard of value.
C) store of value.
D) standard of deferred payment.

Standard of Value

A recognized measure that is used to set the price or value of goods, services, or assets in economic transactions.

  • Pinpoint and interpret the functions money serves within an economic framework.
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Taylor McLeanJul 26, 2024
Final Answer :
B
Explanation :
When money is used to set the value of goods, it is serving as a standard of value. This means that money is being used as a unit of measurement for the worth of goods and services. The other options do not fit this scenario - a medium of exchange is when money is used to purchase goods and services, a store of value is when money is held as an asset, and a standard of deferred payment is when money is used to settle debts in the future.