Use of money did not remove all the difficulties of barter. There was still the difficulty of bringing the two parties together. This difficulty was removed, when the money, the unit of account, also become the medium of exchange. Monetary economy is the opposite of barter system. The use of money converts a barter economy into a monetary economy.
The use of money did not remove all the difficulties of barter. There was still the difficulty of bringing the two parties together. This difficulty was removed, when the money, the unit of account, also become the medium of exchange. The monetary economy is the opposite of the barter system. The use of money converts a barter economy into a monetary economy. Monetary economics refers to the economic system in which money is used as a medium of exchange. Take this short course to understand the concept of Monetary economics.
Introduction Basics of Monetary Economics
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