Question

Why we call money as a medium of exchange​

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

Money is called the medium of exchange as it is something which is used for transactions. It is money which is used by people to get the commodity of his choice. Where earlier, different products were used for exchange, now money is used.

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