Question

The economic definition of money​ is:_________

A. Any asset that people are generally willing to accept in exchange for goods and services.
B. Anything of value owned by a person or a firm.
C. A good that has intrinsic value.
D. Anything authorized by the government to be used in an exchange.

Answer 1

The correct answer is option A.

Step-by-step explanation:

Money can be defined as an object that is widely used as a medium of exchange in economic transactions. The primary function of money is to act as a medium of exchange for goods and services.

Other than that money also performs a number of secondary functions. It acts as a store of value, unit of account and standard of deferred payments.

Money can be of different types such as commodity money, bank money, and fiat money.