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JAMB Commerce 2007 Question 41

Question 41

Money

The function of money that facilitates the comparison of the quality of goods as a basis of exchange is the

  1. A.unit of account
  2. B.measure of value
  3. C.store of value
  4. D.medium of exchange.
Show the answer and explanation

Answer: B (measure of value)

Explanation

As a measure of value, money lets the worth of different goods be compared by their prices.