Answer:
Unit of account.
Explanation:
Unit of account is a function of money that recognises the value of an item of the basis of units of money (currency) that can buy it. Unit of account is used to compare value of various products like goods, services, assets, liabilities, income, or expenses.
Money has 3 primary functions, as medium of exchange, as unit of account, and as a store of value.
Comparing the price of a chicken dinner to the price of a steak dinner and finding that for the price of the steak you can buy two chicken dinners, is using money as a unit of account to compare between chicken dinner and steak dinner.
Answer:
The correct answer is letter "B": unit of account.
Explanation:
Money has three functions: medium of exchange, unit of account, and store value. The unit of account function represents the value of goods and services in a given currency. This function allows to make comparisons between the prices of the same good provided by different producers. The unit of account function is helpful for individuals to determine their income and expenses.
