Do you think money act as a measure of value of goods and services? Explain?
Answers
Answer:
Because money is expressed in units of a currency, money acts as a measure of value that enables people to compare the value of different goods and services.
Money acts as a unit of account or money is the measure of exchange value.
The value of all goods and services is expressed in terms of price and prices are expressed in terms of money.
As money acts as a unit of account it has greatly reduced the number of exchange rates.
Explanation:
Answer:
yes, money can act as a measure of value of goods and services .Public services and private services can be measured . But we cannot and should not measure the values of services of our parents and blood relations
Example :- Public service:- Transportation -APSRTC
Medical facilities-government hospitals
Private services:-Transportation-private buses.
Medical facilities-private hospitals.