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Medium of exchange   /mˈidiəm əv ɪkstʃˈeɪndʒ/   Listen
Medium of exchange

Anything that is generally accepted as a standard of value and a measure of wealth in a particular country or region.  Synonym: monetary system.

WordNet 3.0 © 2010 Princeton University

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"Medium of exchange" Quotes from Famous Books

... medium of exchange necessary in the transaction of business between citizens; that it is the first duty of government to provide this medium for its citizens directly and at the minimum expense; that it should not be considered property in any sense, ...
— The Arena - Volume 4, No. 21, August, 1891 • Various

... related to the productions of Africa, and the dispositions and manners of the natives. The second, to the methods of reducing them to slavery. The third, to the manner of bringing them to the ships, their value, the medium of exchange, and other circumstances. The fourth, to their transportation. The fifth, to their treatment in the colonies. The sixth, to the seamen employed in the trade. These tables contained together one hundred and forty-five questions. My idea was that they should ...
— The History of the Rise, Progress and Accomplishment of the - Abolition of the African Slave-Trade, by the British Parliament (1839) • Thomas Clarkson

... well as those on the nine. It was easy to bet beads against beads and skins against skins, in a simple game of odd or even, but when the element of different values for different combinations was introduced, some medium of exchange was needed to relieve the complications. Stones of fruit were employed just as chips or counters are used in modern gambling games, and a regular bank was practically instituted. Each player took a certain number of these counters, as the equivalent of the ...
— Indian Games • Andrew McFarland Davis

Words linked to "Medium of exchange" :   touchstone, stamp, currency, monetary system, criterion, legal tender, tender, measure, money, standard

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