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Why money is called medium of exchange?
money is called a medium of exchange because it acts as an intermediate in exchange of commodities
Why is money called a medium of exchange?
money is called a medium of exchange because it acts as an intermediate in exchange of commodities
Why money serves as a medium of exchange?
Money serves as a medium of exchange because it can be used to exchange many different types of goods or services by itself.
What is the most important requirement for money to be a medium of exchange?
The most important requirement for money to be medium of exchange is the value of money.
What is some examples of medium of exchange?
Single Minute Exchange of Dies, SMED International and Small/Medium Enterprise Development
A system involves the direct exchange of goods and services without the use of money as a medium of exchange?
A _barter_ system involves the direct exchange of goods and services without the use of money as a medium of exchange.
What circulates as a medium of exchange?
CURRENCY
What was the Mayans medium of exchange?
SALLTT
Name a type of money that serves primarily as a medium of exchange?
A medium of exchange is an intermediary used in trade to avoid the inconveniences of a pure barter system.
What is one requirement for an acceptable medium of exchange?
no
In modern economies what is the medium of exchange?
Money!
Why did the Persians use currency?
As a medium of exchange.
