a medium of exchange is any item that is widely acceptable in exchange for goods and services. In modern economies, the most commonly used medium of exchange...

repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: medium of exchange, a...

conditions) and are readily converted into a medium of exchange but are not themselves a medium of exchange. Deposits at a bank, savings and loan association...

because the individuals who use it as a unit of account – or, in the case of currency, a medium of exchange – agree on its value. They trust that it will...

of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange...

tender. Bitcoin is currently used more as a store of value and less as a medium of exchange or unit of account. It is mostly seen as an investment and has...

list only three functions, that of medium of exchange, unit of account, and store of value, not considering a standard of deferred payment as a distinguished...

A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition...

study of money, considered it to be one of four fundamental functions of money, the other three being medium of exchange, store of value, and unit of account...

barter, other kinds of in-kind transactions also suffer from the coincidence of wants problem in the absence of a medium of exchange. Romance, for example...