Medium Of Exchange
- Editore:
Loc Publishing
- EAN:
9786136684260
- ISBN:
6136684268
- Pagine:
- 60
- Formato:
- Paperback
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Descrizione Medium Of Exchange
Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. A medium of exchange is an intermediary used in trade to avoid the inconveniences of a pure barter system. By contrast, as William Stanley Jevons argued, in a barter system there must be a coincidence of wants before two people can trade - one must want exactly what the other has to offer, when and where it is offered, so that the exchange can occur. A medium of exchange permits the value of goods to be assessed and rendered in terms of the intermediary, most often, a form of money widely accepted to buy any other good.
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