Explain the medium of exchange function of money?

70 Views|Posted 2013-06-14 09:26:52

Asked by Sushmita Sarkar

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Archana Bansla | Contributor-Level 9

2013-06-14 09:31:44

A medium of exchange is an intermediary used in trade to avoid the inconveniences of a pure barter system. Money is the common Medium of Exchange and its most important and essential function is that it is a 'measure of value'. Hifzur Rab has shown that market measures or sets value of various goods