How has currency helped in our economic activities? Write in short.
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A monetary economy is one in which goods are sold for money and money is used to buy goods. Money Promotes Productivity and Economic Growth: ... This raises the demand for money to finance the increased transactions brought about by the expanded level of economic activity.
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Money performs many functions in a modern economy. Thus, money is a medium of exchange, a measure of value, a store of value, and a standard of deferred payments. Medium of exchange: The most important function of money is that it acts as a medium of exchange. Money is accepted freely in exchange for all other goods.
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