Question

what do you mean by term medium of exchange?
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Answer 1

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The medium of exchange is an important function of money. It means that money acts as an intermediary for the goods and services in an exchange of transaction. Use of money as a medium of exchange has removed the major difficulty of double coincidence of wants in the barter system.

Answer 2

Explanation:

Answer

The medium of exchange is an important function of money. It means that money acts as an intermediary for the goods and services in an exchange of transaction. Use of money as a medium of exchange has removed the major difficulty of double coincidence of wants in the barter system