Meaning of the word "medium of exchange" in English
What does "medium of exchange" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
medium of exchange
US /ˈmiːdiəm əv ɪksˈtʃeɪndʒ/
UK /ˈmiːdiəm əv ɪksˈtʃeɪndʒ/
Phrase
an intermediary used in trade to avoid the inconveniences of a pure barter system
Example:
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Money serves as a medium of exchange in modern economies.
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Without a common medium of exchange, trade would be much more difficult.
Related Word: