Money could be defined as

JAMB Economics 2023 167 views
Source: JAMB · 2023

Money could be defined as

  1. Medium of exchange
  2. Medium of payment
  3. Settlement of debt
  4. Options A, B and C ✓
Explanation

Money is defined by what it does. It is a medium of exchange, it is accepted as a medium of payment, and it is used for the settlement of debt.

Since all three are correct, the answer is all three together.

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