Question : Money can be defined as:
Option 1: anything that is generally accepted as a medium of exchange
Option 2: a government-issued document used for payment
Option 3: a commodity used for trade
Option 4: a currency that is backed by gold
Correct Answer: anything that is generally accepted as a medium of exchange
Solution : The correct answer is (a). anything that is generally accepted as a medium of exchange
Money can be defined as anything that is widely accepted as a medium of exchange for goods and services. It serves as a store of value and a unit of account in economic transactions. While money can take various forms, such as currency notes, coins, or digital currencies, its essential characteristic is its acceptance as a means of exchange by the participants in an economy.
.jpg)
.jpg)
