Lexic.us

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.

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

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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