In order to function as a medium of exchange, money must:

Name: In order to function as a medium of exchange, money must:
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Question

Quizplus · Accepted Answer

For money to function as a medium of exchange, it must be widely accepted by people in exchange for goods and services. The backing by gold or other precious commodities (A and C) is not a necessity for modern fiat money systems. Similarly, maintaining a constant value over time (B) is ideal but not strictly necessary for money to serve as a medium of exchange.

In Order to Function as a Medium of Exchange, Money