Why is money accepted as the medium of exchange 0th economics?
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A medium of exchange is an intermediary instrument used to facilitate the sale, purchase or trade of goods between parties. For an instrument to function as a medium of exchange, it must represent a standard of value accepted by all parties. In modern economies, the medium of exchange is currency.
archanasr:
The role of medium of exchange is one of the uses of money. ... A medium of exchange permits the value of goods to be assessed and rendered in terms of the intermediary, most often, a form of money widely accepted to buy any other good.
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Money is accepted as a medium of exchange because the currency is authorised by the
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Money is accepted as a medium of exchange because the currency is authorised by the
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