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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
Which words refers to any system that uses an exchange medium and mdashwhether it's a precious metal or government-printed paper and mdashthat can be traded for other goods?
The term that refers to any system using an exchange medium, whether a precious metal or government-printed paper, is "currency." Currency serves as a medium of exchange, a unit of account, and a store of value, facilitating trade and economic transactions. It can exist in physical forms, like coins and banknotes, or in digital formats.
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
When you use paper money to pay for food the money is a .?
When you use paper currency to pay for food items, the money is considered a medium of exchange which is an accepted form of exchange for goods and services offered to consumers.
When you use paper money to pay for food the money is a?
When you use paper currency to pay for food items, the money is considered a medium of exchange which is an accepted form of exchange for goods and services offered to consumers.
What is an economist's definition of currency?
"Currency' is money in any form when in actual use as a medium of exchange, especially circulating paper money.
What feature is on the china coins and currency?
It is used in the form of paper notes and coins. It is accepted as a medium of exchange as it is authorized by the government of China. As the law legalizes the use of currency as the medium of payment, it cannot be refused in setting transactions anywhere in China.
Which of the following conclusions can be reached based on the information in the reading passagesPresident Grant did not believe a change of currency was an urgent matter?
President Grant did not support the use of paper money as a medium of exchange.
What Refers to any medium of exchange such as a precious metal or government-printed pieces of paper that can be traded for other goods.?
Demand
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
Which words refers to any system that uses an exchange medium and mdashwhether it's a precious metal or government-printed paper and mdashthat can be traded for other goods?
The term that refers to any system using an exchange medium, whether a precious metal or government-printed paper, is "currency." Currency serves as a medium of exchange, a unit of account, and a store of value, facilitating trade and economic transactions. It can exist in physical forms, like coins and banknotes, or in digital formats.
Why was the invention of paper money so revolutionary?
The invention of paper money was so revolutionary because it allowed people a medium of exchange that was easy to carry and helped to create the current banking system.
When and where did the development of paper money begin?
The development of paper money began in China during the Tang Dynasty (618-907 AD). The first recorded use of paper money as a medium of exchange occurred in the 7th century in China.
Why was edo and important city to the tokugawa rulers?
It was important because banking flourished and paper money became the normal medium of exchange in business transaction
