What is another word for medium of exchange?

Pronunciation: [mˈiːdi͡əm ɒv ɛkst͡ʃˈe͡ɪnd͡ʒ] (IPA)

Medium of exchange refers to any currency or other form of money that can be used to buy goods or services. The term medium of exchange is often used synonymously with the concept of money. Other synonyms for medium of exchange include currency, cash, lucre, specie, means of exchange, legal tender, coinage, notes and bills, and financial instrument. In the modern world, the medium of exchange has evolved to include electronic money, such as credit/debit cards, bank transfers, and cryptocurrencies. Regardless of the form it takes, the medium of exchange is essential for trade and commerce to occur in any economy, guiding the flow of money through society.

What are the hypernyms for Medium of exchange?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.

What are the hyponyms for Medium of exchange?

Hyponyms are more specific words categorized under a broader term, known as a hypernym.

Famous quotes with Medium of exchange

  • The cumulative development of a medium of exchange on the free market — is the only way money can become established. … government is powerless to create money for the economy; it can only be developed by the processes of the free market.
    Murray Rothbard
  • Money is a commodity … not a useless token only good for exchanging; … It differs from other commodities in being demanded mainly as a medium of exchange.
    Murray Rothbard
  • Time, for Homo economicus, is not “the stream I go a-fishing in.” It is a medium of exchange. We trade our time for money.
    Curtis White

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