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Money as a Unit of Account: Definition, Function & Example

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What's the best explanation of a unit of account?

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1. Which of the following is the best explanation of money?

2. Which aspect of a unit of account involves the ability to divide the unit with the sum of the parts retaining the value of the whole?

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About This Quiz & Worksheet

Money as a unit of account is an important concept to know in economics, and this quiz/worksheet will test your understanding of its aspects and related principles.

Quiz & Worksheet Goals

In these assessments you'll be tested on the characteristics and principles of:

  • Countable
  • Fungible
  • Divisible
  • Money
  • Units of account

Skills Practiced

This quiz and worksheet allow students to test the following skills:

  • Defining key concepts - ensure that you can accurately describe a unit of account
  • Distinguishing differences - compare and contrast terms from the lesson, such as divisible, fungible and countable
  • Information recall - access the knowledge you've gained regarding money

Additional Learning

To learn more about this topic, review the lesson Money as a Unit of Account: Definition, Function & Example, which covers the following objectives:

  • Define money and unit of account
  • Know the three characteristics of units of account relevant to money
  • Differentiate between countable, fungible and divisible
  • Understand the significance of money as a unit of account
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