Question

why is money called a medium of exchange?why is it accepted as a medium of exchange in india?​

Answer 1

Answer:

Money helps to facilitate trade because people in the economy generally recognize it as valuable. Money is called medium of exchange because money is a widely accepted token that can be used for exchange of any good or service. In old days, barter system was used as medium of exchange and later it was gold.

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Answer 2

Answer:

• money is called a medium of exchange because it is acceptable by all the peoples of a country
• it takes short time
• nobody can deney to take it that's why everybody use it

Explanation:

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