Which of the following phrases describes money?

QUESTION POSTED AT 02/06/2020 - 01:47 AM

Answered by admin AT 02/06/2020 - 01:47 AM

The phrases that describes money the best would be: Medium of exchange

Before money were made, in order to obtain a product that we don't own,  we need to exchange it with another product that we own. This system is commonly known as barter.

With money, we can obtain a product that we don't own without exchanging it with anything. This function is the reason why money is called medium of exchange
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