Why is money considered a standard of deferred payment?

Money is considered a standard of deferred payment for several reasons:

• It allows individuals to make purchases now and pay later, facilitating transactions over time.
• Money serves as a common measure of value, enabling easy comparison of prices for goods and services.
• For example, if you want to buy a book worth £100 but only have £50, you might ask the shopkeeper to accept the remaining payment later.

· This acceptance of money for future payments confirms its role as a standard for deferred payments.