medium of exchange
Definition
Commodity, currency, or a financial instrument used in commercial transactions between buyers and sellers as a measure and standard of value. A distinguishing characteristic of money is its ability to be used as a medium of exchange.
medium of exchange is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
medium of exchange appears in the definitions of the following terms: inflationary spiral, currency crisis, monetary measurement, monetary unit of account, near money and hyperinflation
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