Medium of exchange

A medium of exchange is an intermediary instrument or system used to facilitate the sale, purchase or trade of goods between parties. For a system to function as a medium of exchange, it must represent a standard of value. Further, all parties must accept that standard. In modern economies, the medium of exchange is currency—Read more at Investopedia. Chen, James. “Medium of Exchange Definition.” 13 May 2019

Glossary: Chartalism

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Medium of exchange

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