Question

What is Money as a Medium of exchange in social science.

Answer 1

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Here is your answer,

A medium of exchange is something that a seller is willing to exchange for a good or service. Since all people in the economy generally recognize money as something valuable, it works as a medium of exchange for nearly all purchases.When money is used to intermediate the exchange of goods and services, it is performing a function as a medium of exchange. Unit of Account: It is a standard numerical unit of measurement of market value of goods, services, and other transactions.

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