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medium of exchange

   Also found in: Financial, Wikipedia 0.04 sec.
medium of exchange
n. pl. media of exchange or mediums of exchange
Something, such as a precious metal, that is commonly used in a specific area or among a certain group of people as money.
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.medium of exchangemedium of exchange - anything that is generally accepted as a standard of value and a measure of wealth in a particular country or region
monetary system
criterion, standard, touchstone, measure - a basis for comparison; a reference point against which other things can be evaluated; "the schools comply with federal standards"; "they set the measure for all subsequent work"
legal tender, tender, stamp - something that can be used as an official medium of payment
money - the most common medium of exchange; functions as legal tender; "we tried to collect the money he owed us"
currency - the metal or paper medium of exchange that is presently used
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? Mentioned in ? References in classic literature
 
Money then being established as the necessary medium of exchange, another species of money-getting spon took place, namely, by buying and selling, at probably first in a simple manner, afterwards with more skill and experience, where and how the greatest profits might be made.
A Treatise on Government by Aristotle View in context
One can doubtless hit upon some medium of exchange that seems to do well enough, but it's no more like the real thing than money is like food.
Howards End by Forster, E. M. View in context
Heads are a medium of exchange, and white heads are extremely valuable.
South Sea Tales by London, Jack View in context
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