Single Answer MCQ
Q-00045390
Which of the following describes an example of using money as a standard of deferred payment?
1
Paying today for a future delivery
2
Exchanging goods immediately
3
Bartering services
4
Counting coins before spending
Answer and Solution
Answer
A. Paying today for a future delivery
Solution:
Using money as a standard of deferred payment involves agreeing to pay for goods or services at a future date, which illustrates how money can facilitate credit transactions.
Watch Video Solution