Flashcards - Fundamentals of Money

Flashcards - Fundamentals of Money
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medium of exchange
A medium of exchange is an intermediary used in trade to avoid the inconveniences of a pure barter system
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medium of exchange
A medium of exchange is an intermediary used in trade to avoid the inconveniences of a pure barter system
store of value
A store of value is the function of an asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved

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