The medium of exchange function of money Select one: a. means that money acts as an...
The medium of exchange function of money
Select one:
a. means that money acts as an intermediary between buyers and sellers.
b. relates to the fact that people measure prices using money.
c. relates to the fact that money represents future purchasing power.
Homework Answers
Ans - The medium of exchange function of money -
a) means that money acts as an intermediary between buyers and sellers.
Money acts as the medium of exchange as buyers will exchange money against of any goods and services purchased or consumed from sellers . Earlier it was barter system where goods are exchanged for goods associated with the problem of double coincidence of wants. But money is the most convenient and common medium of exchange and hence it acts as an intermediary between buyers and sellers.
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The medium of exchange function of money
Select one:
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