Unit of account

Unit of account

Nominal monetary unit used to measure, define, record, and compare value

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Edits on 24 Apr, 2020
Aime Anne Nisay
Aime Anne Nisay approved a suggestion from Golden's AI on 24 Apr, 2020
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The most common units of account in the world today used for international transactions are the US Dollar and the EuroEuro.

Golden AI"Attach Wikidata entity ID"
Golden AI edited on 24 Apr, 2020
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Q747699
Edits on 27 Nov, 2018
Jude Gomila
Jude Gomila approved a suggestion from Golden's AI on 27 Nov, 2018
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Being a unit of account is a basic function of currency. The existence of a common unit of account shared by separate groups or individuals is useful for facilitating trade between them, as it provides a means of clearly measuring the relative valuerelative value of the commodities being exchanged.

Edits on 22 Nov, 2018
Daniel Frumkin"Added article and a couple resources for further research."
Daniel Frumkin edited on 22 Nov, 2018
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Documentaries, videos and podcasts (+1 rows) (+2 cells) (+190 characters)
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Unit of account

Nominal monetary unit ofused to measure, ordefine, currencyrecord, usedand tocompare value

Article

A unit of account is a fundamental monetary unit used to measure value, making it possible to compare the values of various unrelated commodities.

Being a unit of account is a basic function of currency. The existence of a common unit of account shared by separate groups or individuals is useful for facilitating trade between them, as it provides a means of clearly measuring the relative value of the commodities being exchanged.

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The most common units of account in the world today used for international transactions are the US Dollar and the Euro.

Further reading

Title
Author
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Type

What is Unit Of Account? definition and meaning

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Documentaries, videos and podcasts

Title
Date
Link

Money as a Unit of Account: Definition, Function & Example - Video & Lesson Transcript | Study.com

Edits on 23 Jan, 2018
Alex Dean
Alex Dean edited on 23 Jan, 2018
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Unit of account

Nominal monetary unit used to measure, define, record, and compare value

Edits on 1 Jan, 2017
Golden AI"Initial topic creation"
Golden AI created this topic on 1 Jan, 2017
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 Unit of account

Nominal monetary unit of measure or currency used to value

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