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When economist says that money serves as a medium of exchange they mean that it is?
Wiki User
∙ 12y ago
They mean that it serves as a way of exchange commodities.
Wiki User
∙ 12y ago
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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.
Money serves as a medium of exchange by?
Products or services
Why money facilitates trade?
It serves as a medium of exchange.
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.
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.
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.
Money serves as a medium of exchange by?
Products or services
Why money facilitates trade?
It serves as a medium of exchange.
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.
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 is called medium of exchange?
money is called a medium of exchange because it acts as an intermediate in exchange of commodities
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 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 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.
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.
