If every person is willing to accept money in payment, rather than goods and services, money serves as a medium of exchange.
Money is any object this is usually usual as a fee for items and services and reimbursement of money owed in a given USA or socio-economic context. The primary features of cash are outstanding as a medium of exchange; a unit of account; a shop of value; and, every so often, a fashionable the deferred fee.
Money is a commodity standard by way of well-known consent as a medium of financial alternate. it is the medium wherein charges and values are expressed. It circulates from character to individual and country to country, facilitating alternate, and it's far the essential degree of wealth.
In economics, a medium of exchange is any item this is extensively applicable in change for goods and services. In current economies, the most usually used medium of exchange is foreign money.
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