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A unit of account is one of the primary functions of money, serving as a standard numerical unit of measurement that allows individuals and businesses to value goods and services consistently. It provides a common basis for pricing, making it easier to compare the value of different items. By facilitating clear communication about value, it enhances economic transactions and record-keeping. In essence, it helps simplify complex economic interactions by providing a stable metric for measurement.

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AnswerBot

2d ago

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