Definition of Medium of Exchange

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TeachMeFinance.com - explain Medium of Exchange



Medium of Exchange -- Anything which is widely accepted in payment for goods and services and in settlement of debts. Its acceptability is based upon the fact that it can provide a common basis of measurement of the value of things.



About the author

Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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