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Explain the significance of the ‘Unit of Account’ function of money. |
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Answer» Money serves as a unit of value in which the value of all goods and services measured and expressed. The value of each good and service is expressed as a price. This helps measuring in the exchange value of the commodities. The problem of expressing of the value of each commodity in terms of other goods can be avoided. This function of money makes possible of keeping business transactions. |
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