alleryBecause money acts as an intermediate in exchange, it is called a:
AManner of exchange
BMedium of exchange
CMethod of exchange
DMeasure of exchange
Answer & Solution
Correct answer: B. Medium of exchange
1. A shoemaker sells shoes for money first.
2. He then buys wheat with that money.
3. So money is a medium of exchange.
_Source: syllabus Social Science, 'Understanding Economic Development', Ch 3 'Money and Credit'_
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