what is standard of deferred payment?
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Answer:
In economics standard of deferred payment is a function of money. It is the function of being a widely accepted way to value a debt, thereby allowing goods and services to be acquired now and paid for in the future. ... The other three being medium of exchange, store of value, and unit of account.
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Explanation:
In economics standard of deferred payment is a function of money. It is the function of being a widely accepted way to value a debt, thereby allowing goods and services to be acquired now and paid for in the future. ... The other three being medium of exchange, store of value, and unit of account.
1) A loan arrangement in which the borrower is allowed to start making payments at some specified time in the future.
2) Deferred payment arrangements are often used in retail settings where a person buys and receives an item with a commitment to begin making payments at a future date.