Question

money is the common unit of measurement of the value of goods and services explain ​

Answer 1

Answer:

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Explanation:

A unit of account (in economics) is a standard numerical monetary unit of measurement of the market value of goods, services, and other transactions. ... Money acts as a standard measure and common denomination of trade. It is thus a basis for quoting and bargaining of prices

Answer 2

Money basically constitutes the main or common medium or unit of estimation of the market value of any good or service and hence,accepted as a common mode of payment in almost every commercial transaction all across the world.

Explanation:

• Market value of goods or services in commercial markets is reflected by the market price of the respective goods and services which is practically converted into money value of those goods and services.
• One of the main functions of money is perceived as the common unit of standard of exchange in any commercial transaction to avoid any confusion regarding the standard market value of goods and services.
• Money as a common medium of exchange also enhances the convenience of commercial exchange of goods and services as it is widely used as a common parameter to measure the market value of any good or service,unlike barter system in the ancient time.