Money could be defined as

Money could be defined as

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

Explanation

This answer correctly explains the economic concept. Economics studies how people make choices about limited resources.

The other options describe different economic ideas or situations. They don’t fit what this question asks.

Remember this economic principle when thinking about money, trade, and how markets work.