Money could be defined as
ECONOMICS
JAMB 2023
Money could be defined as
- A. Options A, B and C
- B. Medium of exchange
- C. Settlement of debt
- D. Medium of payment
Correct Answer: A. Options A, B and C
Explanation
Money can be defined as anything that is generally acceptable as a medium of exchange (means of payment) and in the settlement of debt. It can also be defined as a medium of exchange recognized by law.
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