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Question
Money is accepted as a 'medium of exchange' because _____.
Money is accepted as a 'medium of exchange' because _____.
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Solution
The correct option is C Money facilitates the process of exchange
- In the olden times, barter system was used by people to exchange services and goods for other services and goods in return. The exchange of goods system had created problems h were solved with the introduction of money. Money is used medium of exchange and for storage of value.
- In the olden times, barter system was used by people to exchange services and goods for other services and goods in return. The exchange of goods system had created problems h were solved with the introduction of money. Money is used medium of exchange and for storage of value.
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