Question

what is money? why is it important for money to be the basis of measurement? answer in 100 words​

Answer 1

Answer:

Money makes the world go around. Economies rely on the exchange of money for products and services. Economists define money, where it comes from, and what it's worth.

Answer 2

Money and important for money to be the basis of measurement.

Explanation:

• Money can be defined as any legally identified currency which is accepted and recognized as the medium of exchange in any economy.
• Money is definite, therefore it can be counted and stored for a long time.
• It is important for money to be the basis of measurement as it is easy to count and control money.
• In contrast, other things cannot be used as the basis of measurements because they are not exactly countable.
• Also, measuring things in turn of other things is difficult and does not offer just transactions.