medium of exchange

noun phrase

Definition of medium of exchange

: something commonly accepted in exchange for goods and services and recognized as representing a standard of value

First Known Use of medium of exchange

1714, in the meaning defined above

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Time Traveler for medium of exchange

Time Traveler

The first known use of medium of exchange was in 1714

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Dictionary Entries Near medium of exchange

medium lay

medium of exchange

mediumship

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Cite this Entry

“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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Britannica.com: Encyclopedia article about medium of exchange

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