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money is called a medium of exchange because it acts as an intermediate in exchange of commodities
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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
What is money called when it is accepted for goods and services?
A medium of exchange
Trading without the use of money is called?
* Exchange * Exchange * Exchange * Exchange * Exchange
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.
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.
In modern economies what is the medium of exchange?
Money!
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 gives fiat money its value as a medium of exchange?
Laws set by the government give Fiat money its value as a medium of exchange. Unlike traditional money or currency, it has no good which act as a medium to back it up.
Money serves as a medium of exchange by?
Products or services
Why money facilitates trade?
It serves as a medium of exchange.
What function of money allows freedom of choice?
medium of exchange
Which of the following has no value except as a medium of exchange?
Fiat money
