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VMariaS [17]
3 years ago
15

Fill in the blanks to complete the passage about one of the three key functions of money. Because money creates a standard______

___ it is possible to compare the prices of two goods, which allows people to communicate the_______of the goods in a way that is easily understood. This characteristic of money also enables it to serve as a_____device, or a way to measure accounts and transactions in a consistent manner.
Social Studies
1 answer:
liraira [26]3 years ago
6 0

Because money creates a standard <u>unit of account</u> it is possible to compare the prices of two goods, which allows people to communicate the <u>value</u> of the goods in a way that is easily understood. This characteristic of money also enables it to serve as a <u>recording</u> device, or a way to measure accounts and transactions in a consistent manner

<h3><u>Explanation:</u></h3>
  • To understand this in a better way money is a medium of exchange between the two parties.
  • This becomes possible to compare the prices of the goods which one buys from other.
  • It is a store of value of the goods. This is a unit of account that keeps the measure of all the transaction held.
  • Money is best defined as with its three main features  
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