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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.
Why money facilitates trade?
It serves as a medium of exchange.
When economist says that money serves as a medium of exchange they mean that it is?
They mean that it serves as a way of exchange commodities.
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.
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.
Why money facilitates trade?
It serves as a medium of exchange.
When economist says that money serves as a medium of exchange they mean that it is?
They mean that it serves as a way of exchange commodities.
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.
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
What are the three functions of money?
Money is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account.
What the three functions of money?
Money is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account.
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 money and what functions does it serve in the economy?
Money is a medium of exchange that is widely accepted in transactions. It serves as a unit of account, a store of value, and a standard of deferred payment in the economy.
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.
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.
