medium of exchange
4
4.1
- noun
- Specialized
:
medio de intercambio
- Everyone, including the tourists, uses Jamaican dollars as a medium of exchange.
Bitcoin is poorly suited to the purpose of becoming any nation's main medium of exchange.
- Bitcoin is poorly suited to the purpose of becoming any nation's main medium of exchange.
- It's because gold has some emergent qualities that the market discovered made it very good medium of exchange.
- Just the raw economics of money is that others will use it and exchange it, and thus it becomes the medium of exchange, unit account and store of value.
- You know that these markers, these medium of exchange and store value.
- The three things medium of exchange, unit of account and store value.
- We say, Yep, we, we accept this as our, as our medium of exchange is our method of exchange.
- That's very different from Facebook's of a stable value currency, which would be effective as both a medium of exchange and a store hold of wealth.
- And So what you're essentially doing is you're democratizing access to a true store value and a medium of exchange, right?
- We know with perfect certainty what Bitcoin supply will ever be for it to be used more broadly as a medium of exchange.
Examples
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The functions of money are a store of value, a medium of exchange, and a unit of account.
Blog text (11) -
Well, money is not the only medium of exchange.
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Events happened that increased the market's demand for the medium of exchange.
Blog text (34) -
Money is not this institution's primary medium of exchange.
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Money is not something special and outside of exchange; it is merely a medium of exchange.
Blog text (20) -
Given the demand to hold currency, there is now a shortage of the medium of exchange.
Blog text (27) -
As elsewhere in East Africa, cattle in Pare functioned as investment capital, a medium of exchange, and prestige goods.
Academic text (1998) -
In many ancient cultures, salt was used as a medium of exchange for trading goods.
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Today, cash is the most common medium of exchange for purchasing everyday items.
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Many digital currencies are becoming a popular medium of exchange in online transactions.
Synonyms
2
3.9
A thing many people in a group accept or value
Antonyms
Surface Forms
Morphology
The phrase is compositionally built from 'medium' (an instrument or channel) + 'of' + 'exchange' (giving and receiving), so a learner who knows those words can infer it denotes something used to carry out exchanges (i.e., payment). This instrument-of-action pattern is common cross-linguistically and follows regular English noun-of-noun composition, making the meaning directly derivable for a B1 learner.
Etymology
Medium of exchange uses medium to mean 'something in the middle' and exchange to mean 'to swap'. Imagine a person standing between two people who want to swap goods and who passes items for them. Money works like that middle helper, so the phrase means something people accept as 'payment'.