Question

What is Money? Why is it important for money to be the basis of measurement?​

Answer 1

Money is used to denote any form of currency that is also used as a medium of exchange in economies.

Explanation:

1. It is important for money to be the basis of measurement because it can be very easily accounted for.  
2. Unlike the other systems like the barter system, people exchange money for the goods and services that they use. This makes keeping the track of the same easier.
3. Money can also be stored and has the same value in the economy over time. It can also be used for measuring other currencies.
4. Money also measures the buying capacity of people.