The need for a barter system diminishes when money is used as a

Question

Quizplus · Accepted Answer

Money serves as a medium of exchange, meaning that it can be used to buy goods or services in exchange for money. This eliminates the need for a barter system where goods and services are exchanged directly without using money. Money also serves as a store of value, unit of account, and measure of value, but these functions alone do not eliminate the need for a barter system.

The Need for a Barter System Diminishes When Money Is