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Question
Since money acts as an intermediate in the exchange process, it is known as the
Since money acts as an intermediate in the exchange process, it is known as the
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Solution
The correct option is C medium of exchange
Any item will become a medium of exchange if both parties know that the other will accept that item. Earlier, people used grains and cattle as the medium of exchange. Later, metal coins emerged as an intermediate in the exchange process.
Any item will become a medium of exchange if both parties know that the other will accept that item. Earlier, people used grains and cattle as the medium of exchange. Later, metal coins emerged as an intermediate in the exchange process.
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