The standard of value for a particular unit of money is established and accepted within an economic community at a specific time. Thus, option B is the correct answer.
<h3>What is economic?</h3>
Economics can be defined as the part where the economy is there when the product is being brought and sold in the market.
The standard of value can be defined as the fact in which the country is having a rate of exchange and the price is thereupon predefined. These prices are fixed in the economy for a particular time period, in which transactions like imports and export happen in the market. Therefore, option B is the correct option.
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The question is incomplete, the complete question is
The _______________ for a particular unit of money is established and accepted within an economic community at a specific time.
-Medium of exchange
-Standard of value
-Barter
-Store of value
Standard of value
