Describe Using Money as a Standard of Value
An exchange goods or services without involving money. To put it simply the value of every product or service can be expressed in monetary form. Equivalent Fractions And Comparing Fractions Word Problem Worksheets Word Problems Fraction Word Problems Word Problem Worksheets It means that money acts as a. . A measure of Value. In the process of buying and selling everything is brought into contact with money the value of everything is compared with the value of money and expressed in terms of money. Money is not a risk-free store of value. Money facilitates the acts of borrowing and lending. These payments will be made using money because money acts as a store of value. And fiat money which has no intrinsic value but is declared by a government to be the legal tender. A medium of exchange is something that buyers will exchange. Since money enables current transactions to be discharged in future it has becom...