Banknote
money is called a medium of exchange because it acts as an intermediate in exchange of commodities
Money serves as a medium of exchange because it can be used to exchange many different types of goods or services by itself.
The most important requirement for money to be medium of exchange is the value of money.
Single Minute Exchange of Dies, SMED International and Small/Medium Enterprise Development
A _barter_ system involves the direct exchange of goods and services without the use of money as a medium of exchange.
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 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.
"Currency' is money in any form when in actual use as a medium of exchange, especially circulating paper money.
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.
President Grant did not support the use of paper money as a medium of exchange.
Demand
money is called a medium of exchange because it acts as an intermediate in exchange of commodities
money is called a medium of exchange because it acts as an intermediate in exchange of commodities
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.
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.
Money serves as a medium of exchange because it can be used to exchange many different types of goods or services by itself.
It was important because banking flourished and paper money became the normal medium of exchange in business transaction