medium of exchange
noun phraseDefinition of medium of exchange
: something commonly accepted in exchange for goods and services and recognized as representing a standard of value
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“Medium of exchange.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/medium%20of%20exchange. Accessed 23 Jan. 2022.
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The first known use of medium of exchange was in 1714
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