... single measurement standard that allows us to express all economic goods and services in terms of a monetary value. Base on the monetary value, people can make comparison between the economic values of different goods. Moreover, people can measure the value of a basket of goods and services by the simple addition of their total monetary. Economic aggregates such as gross domestic product could not be calculated in a significant way without a single measure of value. Currency seems perform this function better. Currency is measured in dollar. For example, a management textbook costs 80 dollars. An accounting textbook costs 100 dollars. Therefore, comparisons between the economic values of these two books can be made on the basis on monetary value. It can be seen the accounting textbook is more expensive. Bank deposit can be accessed through various payment instruments, such as a cheque. Then people can use that to ...

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