GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Amount of money exchanged for a good or service
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price
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incentive
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consumption
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production
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Explanation:
Detailed explanation-1: -ADVERTISEMENTS: Price is the exchange value of goods or services in terms of money.
Detailed explanation-2: -Money helps to facilitate trade because people in the economy generally recognize it as valuable. Since most people recognize money as valuable, they are willing to trade money for goods and services with the intention of one day using the money they received as a seller to buy goods or services from someone else.
Detailed explanation-3: -Definition: Exchange rate is the price of one currency in terms of another currency.
There is 1 question to complete.