How Does Money Function as a Unit of Account?​

question 86

Multiple Choice

How does money function as a unit of account?​

• A)Money has intrinsic worth as a commodity.
• B)Money is convertible into commodities that have intrinsic worth.
• C)The prices of all goods and services are measured in terms of money.
• D)Things that function as money can do so because people know there is a standard of value that ultimately backs the money even if it is only faith.
• E)Bank accounts make it easy for people to store their wealth.

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Definitions:

Aggregate Planning

A process in procurement and production planning aimed at determining necessary capacity and resources to meet anticipated demand.

Transforms Forecasts

Involves using mathematical transformations on historical data to make future predictions.

Projected Demand

An estimate of the future demand for a product or service, based on historical data, market trends, and forecasting techniques.

Total Supply Chain

The entire sequence of processes involved in the production and distribution of a commodity, from raw materials to the final product delivered to the end user.