Question

How can money be easily exchanged it for goods or services? Give example to explain

Answer 1

Money is form of currency,so you can give it to someone and redeem good or services
ex- hokker- 500$/hour
me- done
;)

Answer 2

☘️ Answer:

• Money as a medium of exchange for goods and services:
• A person holding money can easily exchange it for any commodity or service that he or she might want. Everyone prefers to receive payments in money and exchange the money for things they want.
• For example: A shoemaker wants to sell shoes in the market and buy wheat. The shoe maker will first exchange shoes for money and then exchange the money for wheat. If the shoemaker had to directly exchange shoes for wheat without the use of money, he would have to look for a wheat growing farmer who not only wants to sell wheat but also wants to buy the shoes in exchange. Both the parties have to agree to sell and buy each other’s commodities. This process is very difficult, time consuming and unhealthy