Definitions for "Unit of Account"
Keywords:  numeraire, cuenta, unidad, compte, sdr
A benchmark against which to base the value of payments. It is a specially defined unit, rather than a real payment medium, used in international payments. Français: Unité de compte Español: Unidad de cuenta
A widely agreed measure to reckon prices of goods and services and comparisons between goods and services.
A basic function of money, providing a unit of measurement for defining, recording, and comparing value. I.e., one dollar signifies not only a one dollar bill, but also a dollar's worth of money in other forms (deposits), of wealth in other forms than money, and of any good or service with a market value.
an abstract concept and an abstract mathematical number