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What Is Money? | #what is money #money #exchange #medium of exchange #barter trade #trade #market #universal #universal medium of exchange #good shape # finance blogs #blogs

Money - What Money Is And How It Works.

Money - What Money Is And How It Works.

Way back in time, man lived in an economy that ran on a type of trade known as 'barter trade', whereby goods and services where exchanged directly for other goods or services. But because of the fixed value of goods and services, these exchanges suffered the problem of incompatibility. Someone overtime, came up with an idea of a universal medium of exchange that would iron out these incompatibilities. This medium of exchange is what we now call money. In this article we'll be looking at what money is and how it works.