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Question
When the value of commodity is expressed in terms of money it is called ______.
Options
Deposit
Price
Barter system
Transfer of value
MCQ
Fill in the Blanks
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Solution
When the value of commodity is expressed in terms of money it is called price.
Explanation:
Money serves as a common unit of account, allowing the value of all different goods and services to be quantified methodically. When the exchange value of a certain commodity is formally expressed using these monetary units, it is commonly referred to as its price.
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