Q7 of 27 Page 1

Why is money accepted as a medium of exchange?

Money is accepted as a medium of exchange. A person can easily exchange money for goods and services that he/she wants.


It eases the process of buying. For example, if a person wants to buy wheat in exchange for rice, he has to look for a person who has rice. Instead, if he has money, he can easily buy wheat which saves his time.


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