Unit of account refers to the function of money that allows it to be used as a standard measure of the value of goods and services. It provides a common unit in which prices can be expressed and compared, facilitating economic calculations and transactions.

- **Medium of Exchange:**
The medium of exchange is one of the functions of money that allows it to be used as a widely accepted means of payment for goods and services. It facilitates the exchange of goods and services by eliminating the need for bartering or direct exchange. Money serves as a medium through which transactions can be conducted, enabling individuals to buy and sell goods and services with ease.

- **Unit of Account:**
The unit of account function refers to the measurement of the value of all goods and services in terms of a common unit. Money provides a standard measure in which prices can be expressed, allowing for easy comparison and calculation of the relative value of different goods and services. For example, if the price of a loaf of bread is $2 and the price of a gallon of milk is $4, money allows us to compare these prices and determine the relative value of each item.

- **Standard of Deferred Payment:**
The standard of deferred payment function of money refers to its ability to be used to make future payments or settle debts. Money serves as a reliable and universally accepted medium for settling financial obligations over time. For example, loans and credit transactions are often denominated in a specific currency, which serves as a standard for the repayment of the borrowed amount in the future.

- **Store of Value:**
The store of value function of money refers to its ability to hold and preserve value over time. Money can be saved or accumulated as an asset, allowing individuals to store their wealth in a readily exchangeable form. Money, unlike perishable goods, can be kept for future use and retains its value over time.

In this case, the measurement of the value of all goods and services refers to the unit of account function of money. Money provides a common unit in which the value of goods and services can be expressed and compared, enabling economic calculations and transactions.