Money Serves as a Basic Yardstick for Measuring Economic Value

question 57

Multiple Choice

Money serves as a basic yardstick for measuring economic value (a unit of account) , allowing:

• A)people to hold their wealth in a liquid form.
• B)governments to restrict the issuance of private monies.
• C)easy comparison of the relative prices of goods and services.
• D)goods and services to be exchanged with a double coincidence of wants.

---

Definitions:

Affective Choice

Process in which consumers make a choice based on how they think the product will make them feel.

Evaluative Criteria

The attributes a consumer considers important about a certain product.

Attitudinal Self-evaluation

The process of assessing one's own attitudes, beliefs, and predispositions, often in relation to specific subjects or behaviors.

Customer Satisfaction

A measure of how products or services provided by a company meet or surpass the customer's expectations.