Definition of Medium of exchange

1. Noun. Anything that is generally accepted as a standard of value and a measure of wealth in a particular country or region.

Exact synonyms: Monetary System
Generic synonyms: Criterion, Measure, Standard, Touchstone
Specialized synonyms: Legal Tender, Stamp, Tender, Money, Currency

Definition of Medium of exchange

1. Noun. An intermediary used in trade to avoid the inconveniences of a pure barter system, such as money. ¹

¹ Source: wiktionary.com

Lexicographical Neighbors of Medium Of Exchange

mediterranean anchovy
mediterranean fever
mediterranean islands
mediterranean region
mediterraneous
medium
medium-chain
medium-chain acyl-CoA dehydrogenase
medium-chain triglyceride
medium-sized
medium-term
medium artery
medium dead
medium dry
medium frequency
medium of exchange
medium pace
medium pacer
medium pacers
medium rare
medium scale integration
medium steel
medium vein
medium wave
mediumism
mediumistic
mediums
mediumship
mediumships
mediumwave

Literary usage of Medium of exchange

Below you will find example usage of this term as found in modern and/or classical literature:

1. Principles of Economics by Frank William Taussig (1915)
"By the price of a commodity is signified the amount of money which it will command; in other words, its value in terms of the accepted medium of exchange. ..."

2. Principles of Economics by Frank William Taussig (1911)
"By the price of a commodity is signified the amount of money which it will command; in other words, its value in terms of the accepted medium of exchange. ..."

3. The Ways and Means of Payment: A Full Analysis of the Credit System, with by Stephen Colwell (1859)
"The credit system has furnished, in the shape of bank-notes, a very efficient and convenient medium of exchange. A bank with large capital and good credit ..."

4. The Financial Organization of Society by Harold Glenn Moulton (1921)
"CHAPTER IV OTHER FUNCTIONS AND SERVICES OF MONEY L MONEY AS A MEDIUM OF EXCHANGE "Money is a medium of exchange. " This is the definition of money commonly ..."

5. Cyclopedia of American Government by Andrew Cunningham McLaughlin, Albert Bushnell Hart (1914)
"Money hae several functions: (1) medium of exchange; (2) common denominator or standard; (3) standard of deferred payment. The theory of money depends ..."

6. The Principles of Money by James Laurence Laughlin (1903)
"Price is dependent upon the conception of a standard; the medium of exchange can come effectively into play only after the price valuation has been made. ..."

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