What do a.m. and p.m. stand for?

medium of exchange

anything generally accepted as representing a standard of value and exchangeable for goods or services.
Origin of medium of exchange
1730-40 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for medium of exchange
  • We have the technology to move to a more efficient, convenient, freely flowing medium of exchange.
  • As a medium of exchange, it functions as a public utility, similar to public roads.
  • And since the yuan is already a good store of value, it will soon also become a medium of exchange.
  • Money can only be used as an accepted medium of exchange or an instrument of calculation.
  • Some residents of foreign countries hold dollars as a store of value, while others use it as a medium of exchange.
  • No other medium of exchange shall be used by prisoners to pay for goods or services.
  • No banker, no politician can stop that by destroying one medium of exchange.
  • People will find or create another medium of exchange.
  • Cash may be defined as any medium of exchange that a bank will accept at face value.
  • Certificates from the warehouses were a medium of exchange with local tobacco merchants.
British Dictionary definitions for medium of exchange

medium of exchange

anything acceptable as a measure of value and a standard of exchange for goods and services in a particular country, region, etc
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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