Why money is a medium of exchange?
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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.
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it is common for all and doesn't require acceptable commodities from the other side
plus it is sanctioned by the RBI
uniform currency
plus it is sanctioned by the RBI
uniform currency
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