Economy, asked by satyapragyanOO7, 7 months ago

what is the importance of money ? how money is referred as a medium of exchange ?

Answers

Answered by ashising2704

5

Answer:

When money is used to intermediate the exchange of goods and services, it is performing a function as a medium of exchange. It thereby avoids the inefficiencies of a barter system, such as the "coincidence of wants" problem. Money's most important usage is as a method for comparing the values of dissimilar objects.

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