sepdentalcare7375 sepdentalcare7375

15-12-2022
Business

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around the world oil is priced consistently in united states dollars. in economic terms this is an example of: group of answer choices store of value. flexible values. medium of exchange. units of account.

Answer :

Madoghwe Madoghwe

19-12-2022

In economic terms, the scenario given is an example of units of account. (Option D).

What is Units of Account?

The unit of account is one of money's roles in economics. A unit of account, or common numerical monetary unit, is used to measure the market value of goods, services, and other transactions.

Since money is used as a means of exchange for buying and selling as well as a value indicator for many different goods and services, it can be employed as a unit of account. That suggests that money has the capacity to keep track of how an object's value evolves over time and via various transactions.

Learn more about units of account here: https://brainly.com/question/12730352

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