Question
When people describe how much a product is worth, which function of money are they using?
Standard
Store of value
Medium of exchange
Measure of value
Standard
Store of value
Medium of exchange
Measure of value
Answers
GPT-4o mini
When people describe how much a product is worth, they are using the **measure of value** function of money. This function allows individuals to express and compare the value of different goods and services in monetary terms, making it easier to understand and communicate worth.