The correct answer is option 3: 1-D, 2-A, 3-C, 4-B
1.
A unit of value
D.1 pen = 3 pencils
2.
A medium of exchange
A.Commonly accepted measure of value
3.
A standard of deferred payments
C.Credit transactions
4.
A store of value
B.Savings done in terms of money
Here's why each option matches its definition:
1. A unit of value (D. 1 pen = 3 pencils): This refers to a common way to compare the value of different goods. In this case, we can express the value of a pen in terms of pencils.
2. A medium of exchange (A. Commonly accepted measure of value): This is something widely accepted for the payment of goods and services.Money serves this purpose because most people are willing to accept it.
3. A standard of deferred payments (C. Credit transactions): This refers to something that can be used to settle debts in the future. Credit transactions involve delayed payment, and the value of the good or service is measured in a common unit (money).
A store of value (B. Savings done in terms of money): This is something that can hold its value over time. Money allows us to store our purchasing power for future use.
