Asked by
Ahmet GUZELCE
on Nov 11, 2024Verified
Whatever serves as a medium of exchange is:
A) money.
B) money,as long as it is also the best such medium of exchange available.
C) money,as long as it is not also a commodity.
D) money,as long as it is not also legal tender.
E) not money,unless it continues to be backed by its issuing institution.
Medium Of Exchange
An intermediary instrument, such as money, used to facilitate buying and selling goods and services.
Money
A medium of exchange that facilitates trade, serves as a unit of account, a store of value, and sometimes, a standard of deferred payment.
Commodity
A basic good used in commerce that is interchangeable with other goods of the same type.
- Understand the utility and properties of financial instruments.
Verified Answer
MG
Learning Objectives
- Understand the utility and properties of financial instruments.