wiz-icon
MyQuestionIcon
MyQuestionIcon
2
You visited us 2 times! Enjoying our articles? Unlock Full Access!
Question

What is meant by meadum of exchange? Explane with an example.

Open in App
Solution

Dear Student, An instrument that is used to facilitate the sale, purchase or trade of goods between buyers and sellers is called a medium of exchange. In modern economies the medium of exchange is currency.


flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Transportation and the Factors Affecting It
GEOGRAPHY
Watch in App
Join BYJU'S Learning Program
CrossIcon