Money's function as a medium of exchange means that
A) money is a common denominator for expressing the prices of goods and services.
B) money can be used to store wealth.
C) money serves as an acceptable means of payment.
D) money requires a double coincidence of wants.

Question

Quizplus · Accepted Answer

Money's function as a medium of exchange specifically means it is widely accepted as a means of payment for goods and services. This eliminates the need for a double coincidence of wants, which is necessary in barter systems.

Money's Function as a Medium of Exchange Means That