A medium of exchange which is generally acceptable is

Assessment: WAEC SSCE - Economics - 2008 (Objective) Subject: Economics

Question 1 Report

A medium of exchange which is generally acceptable is
Answer Details
A medium of exchange which is generally acceptable is "money". Money is a widely accepted medium of exchange that facilitates transactions between buyers and sellers. It is used to purchase goods and services, pay off debts, and store value. Money can take different forms such as paper currency, coins, or digital currency, and it must be easily recognizable, divisible, durable, and portable. Money serves as a means of payment and a unit of account, enabling the pricing of goods and services in a standardized manner.

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