medium of exchange


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Related to medium of exchange: measure of value

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.

medium of exchange

n
(Banking & Finance) anything acceptable as a measure of value and a standard of exchange for goods and services in a particular country, region, etc

me′dium of exchange′


n.
something generally accepted as representing a standard of value and exchangeable for goods or services.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.medium of exchange - anything that is generally accepted as a standard of value and a measure of wealth in a particular country or regionmedium of exchange - anything that is generally accepted as a standard of value and a measure of wealth in a particular country or region
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
Translations
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.
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.
Heads are a medium of exchange, and white heads are extremely valuable.
The idea here is that wealth should be used to create value, and, as money is a medium of exchange and not a store of value, to create more money from money adds nothing to society.
Booming economy and growing disposable income among middle income group in developing world has led Bitcoin technologies to gain traction and to be used as one of the medium of exchange in the region.
For the first time in history, currency, the primary medium of exchange, can be issued by individuals without recourse to governments.
Another way to express the point that Bitcoin is not at this time a quantitatively important money is to reflect on the economist's standard definition of money--namely, an entity that serves as a medium of exchange, store of value, and unit of account.
For instance, prepaid credits in the account of mobile subscribers are being increasingly used as a medium of exchange in private peer-to-peer (P2P) and commercial transactions, even if the subscriber does not have an existing bank account.
Interest is forbidden as money is not a commodity but merely a medium of exchange.
At its essence, cryptocurrency is a digital medium of exchange or, in simpler language, an electronic currency that is used to facilitate the buying and selling of items.
They concluded that the virtual currency is currently a speculative financial asset that can be used as a medium of exchange.
And yes, some people who have treated Bitcoin as the medium of exchange is supposed to be have been hurt also, in two ways.

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