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Exchange money means that somebody change a currency into an other currency. This can be done at a bank or a money exchange shop. An exchange is often required at a visit of an other nation which use an other currency.
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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.
What does the term exchange means?
Exchange money means that somebody change a currency into an other currency. This can be done at a bank or a money exchange shop. An exchange is often required at a visit of an other nation which use an other currency.
What kind of money has no value except as a medium of exchange?
The term "fiat money" means money backed by the credit of the issuer, and has no intrinsic value.
What is the term for trade that is based on the exchange of goods rather than for money?
This is known as bartering.
What does currency exchange rate mean?
it means that currency (money) is changing throughout different courtries.
What does the term sales mean?
The term sales means that something is given to someone in exchange for money. This could be goods or services.
What exactly does a forex exchange mean?
I think 'forex exchange' comes from the term 'foreign currency exchange'. You can exchange your money from the currency of the country you are based in to a currency from another country.
What is the premium on money in a currency exchange?
Agio is the term for the premium on money in a currency exchange.
What is the term used for the money a bank pays you in exchange for keeping your money for a while?
interest
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.
What does the term exchange means?
Exchange money means that somebody change a currency into an other currency. This can be done at a bank or a money exchange shop. An exchange is often required at a visit of an other nation which use an other currency.
What is the term for goods that are shipped out of a country in exchange for goods or money?
exported goods
What does the term paypoint mean?
Paypoint is not a term. Paypoint is a business that pays your bills in Brittain in exchange for a certain amount of money. This is often required since a lot of people don't exactly know how to the paperwork.
What does chedda mean?
It is a slang term for the word money It is a slang term for the word money It is a slang term for the word money is a slang term for the word money is a slang term for the word money
What is the term for a sum of money paid in exchange for the right to vote called?
Poll Tax
What is difference between money market and foreign exchange market?
Foreign exchange market is a market where foreign exchange currency problems are resolved in international trade. Where as Money market is for the lending and borrowing of short term loans.
What kind of money has no value except as a medium of exchange?
The term "fiat money" means money backed by the credit of the issuer, and has no intrinsic value.
