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money is called a medium of exchange because it acts as an intermediate in exchange of commodities
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∙ 12y ago
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What is money called when it is accepted for goods and services?
A medium of exchange
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.
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.
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.
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.
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 is money called when it is accepted for goods and services?
A medium of exchange
Trading without the use of money is called?
Trading without the use of money is called bartering. In bartering, goods or services are exchanged directly for other goods or services without using a medium of exchange like money.
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.
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.
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.
In modern economies what is the medium of exchange?
Money!
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.
Money serves as a medium of exchange by?
Products or services
Why money facilitates trade?
It serves as a medium of exchange.
What function of money allows freedom of choice?
medium of exchange
What function of money allows freedom of choice.?
medium of exchange
