medium of exchange

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Medium of Exchange

Anything used as money. A medium of exchange is most commonly a currency, but it may be a commodity agreed-upon in a certain area as having a value. Examples include gold, silver, or even seashells.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

medium of exchange

see MONEY.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

medium of exchange

an attribute of MONEY, enabling people to price goods and services and exchange them, using money as a common denominator rather than exchanging one good directly for another (as in BARTER).
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005