How to use medium of exchange in a sentence

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Sentence Examples He then shifts to the use of gold in Greece, Rome, and Byzantium, initially as adornment but later as a medium of exchange. The same qualities that made gold a desirable medium of exchange in the ancient world make orichalc useful to mages. But with personal property creatable on demand from sunlight and dirt, it's not clear what the medium of exchange would be. Given a medium of exchange, people can trade even if their wants and needs don't directly coincide. Accordingly, money is brought forth into society to be used as a medium of exchange to facilitate the trade of goods of all kinds. No asset since gold in the 19th century enjoys such broad acceptance as both a medium of exchange and a store of value as the dollar. Money traditionally is both a riskless, liquid asset and a medium of exchange. Also unheard-of was a cartel cornering a commodity such as crude oil, as long as the medium of exchange was gold. At the same time, it is obvious that goods serving as a medium of exchange should have some specific technical properties. It is natural for a metal, which is also endowed with a number of other qualities, like being divisible, portable, cognizable, etc., to be the general medium of exchange. Profits are based on national currency being a commodity like coffee or sugar and the same medium of exchange as gold or platinum. In some countries, coins were the principal medium of exchange, and notes were issued only as a temporary measure to address a specific need. If a certain type of good is employed as a medium of exchange, one speaks of money. The primary roles of money are to serve as a medium of exchange, a unit of account, and a store of value. The value of an item that served as a medium of exchange was not constant in all areas. Silver has also been an important medium of exchange since very early times. Our analysis will therefore focus on evaluating the benefits and costs associated with eliminating the penny as a medium of exchange. Because it was valuable, wampum became a medium of exchange not only between Indians and traders but also among the colonists. A feature of the fur trade was the use of liquor as a medium of exchange with the natives. As these remarks suggest, Domenico and Antonello participate in an idealized social ritual, with oil painting functioning as the medium of exchange. Show More Sentences It is the principle of being a medium of exchange and only because of this that secondary functions come into being, such as the role of money as a store of value. Over time money completely lost its role as a store of value, unit of account and medium of exchange. In countries with a history of high inflation, the public may choose to use foreign currency as a medium of exchange and a standard of value. Last-year gold coins were struck in Canada because of limited interest in gold coins as a medium of exchange. The asset is also used as a medium of exchange in the decentralized market to obtain the special goods. These are paid Judases who've accepted thirty pieces of silver, only to discover that silver is no longer the medium of exchange on the market. Some went even further to claim that the descendants of former cap tives remain ed victims of a congenital defect due to the simple fact that their parents once served as a medium of exchange. Because the coinage in common use in the colonies was already diverse, including Spanish, Portuguese, French, and Dutch coins as well as English ones, the adoption of wampum as another medium of exchange was an easy matter. Cowrie shells were used as the chief medium of exchange. It is for these reasons that commodities that also ser ve as a store of value are preferable to commodities that only ser ve as a medium of exchange. It is obvious that one precondition for this particular good to fulfil the function of money is that it is accepted throughout the economy as a medium of exchange, be it because of tradition, informal convention or law. When inflation becomes very high, money is losing its value so quickly that it soon ceases to be useful as either a medium of exchange or as a store of value. It should be noted that gold was an important medium of exchange during this period and was frequently used in commercial transactions to purchase goods or assets or to repay liabilities. The value at every point in this scenario derives entirely from use or prospective use as a medium of exchange. By 407 there were no new Roman coins going into circulation, and by 430 it is likely that coinage as a medium of exchange had been abandoned. The supply administration was run as a business using money as the medium of exchange. Owing to a lack of confidence in the local currency, the US dollar is widely accepted as a medium of exchange alongside the Somali shilling. Modern traders instead generally negotiate through a medium of exchange, such as money. Owing to a lack of confidence in the Somali shilling, the US dollar is widely accepted as a medium of exchange alongside the Somali shilling. East Asia trading primarily functioned on a silver standard due to Ming China's use of silver ingots as a medium of exchange. Show More Sentences The Yuan Dynasty was the first ancient economy, where paper currency, known at the time as Chao, was used as the predominant medium of exchange. A medium of exchange is an intermediary used in trade to avoid the inconveniences of a pure barter system. Thus it tends to be the medium of exchange function that constrains what can be used as a form of financial capital. Trade with European powers and the Japanese brought in massive amounts of silver, which then replaced copper and paper banknotes as the common medium of exchange in China. The fact that a bank or mint has always been able to generate a medium of exchange marked for more units than it is worth as a store of value, is the basis of banking. 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. Trade with Early Modern Europe and Japan brought in massive amounts of silver, which then replaced copper and paper banknotes as the common medium of exchange in China. Almost everywhere cotton cloth could be used as a medium of exchange. Examples from Classical Literature In western Africa the money cowry has been and is now used as a medium of exchange in place of gold. For the first time in history, currency, the primary medium of exchange, can be issued by individuals without recourse to governments. Interest is forbidden as money is not a commodity but merely a medium of exchange. One can doubtless hit upon some medium of exchange that seems to do well enough, but it's no more like the real thing than money is like food. They concluded that the virtual currency is currently a speculative financial asset that can be used as a medium of exchange. And yes, some people who have treated Bitcoin as the medium of exchange is supposed to be have been hurt also, in two ways. At its essence, cryptocurrency is a digital medium of exchange or, in simpler language, an electronic currency that is used to facilitate the buying and selling of items. Heads are a medium of exchange, and white heads are extremely valuable. Find more words! 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Words that rhyme with medium of exchange What is the plural of medium of exchange? Use our Sentence Generator Nearby Words medium-large mediumistic medium-high medium Mediterranean Sea mediterranean sea mediums mediumship medium-sized medium-term mediumwave mediumweight