medium of exchange
noun[S]
MONEYukussomething that is used topayforgoodsorservices, forexampleaparticularcurrency:
Theeurohasemergedas aglobalmediumofexchangetorivalthedollar.
Examplesofmedium of exchange
medium of exchange
However all of these approaches are somewhat ad hoc and do not explain why intrinsically worthless money can have value asmediumofexchange.
From
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Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Early silver coins, known as sceattas, appeared, replacing the impractical gold thrymsa as amediumofexchange.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.They performed the function of money as amediumofexchange.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.According to economists, money is amediumofexchange.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.The use of money as amediumofexchangeand unit of account is necessary to solve the first two problems of economic calculation.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.However economics does not explain how individual human beings and societies came to accept symbolic money as amediumofexchangeor store of value.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.A currency is a unit of exchange and hence a kind of money andmediumofexchange.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.More recently cryptocurrencies such as bitcoin have been used asmediumofexchangein black market transactions.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Duplicate stamps can be sold or traded, so they are an importantmediumofexchangeamong collectors.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.The commonmediumofexchangewas lump silver coinage, followed by gold and copper lump coinage.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors.
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