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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. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.