Money Lets You Measure the Relative Values of Goods and Services

question 28

Multiple Choice

Money lets you measure the relative values of goods and services. In so doing, money is performing which of the following functions?

• A) Store of value
• B) Medium of exchange
• C) Determination factor
• D) Monetary flagging
• E) Unit of account

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Definitions:

Administered Vertical Marketing System

A coordinated marketing channel where a single member coordinates activities, without formal agreements, to increase efficiency and effectiveness.

Contractual Agreements

Legally binding contracts or understandings between two or more parties outlining the terms and conditions of a business arrangement.

Marketing Chain

A system of intermediaries or channels through which goods and services pass from the manufacturer to the end consumer.

Service-Sponsored Retail Franchise System

A franchising model where franchisors provide a full range of services including brand, operational guidelines, and ongoing support to the franchisee, often seen in retail.