Why is a measure for money essential?
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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. Measure of value: Money acts as a common measure of value. It is a unit of account and a standard of measurement.
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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. Measure of value: Money acts as a common measure of value. It is a unit of account and a standard of measurement
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