A Medium of Exchange Is

question 258

Multiple Choice

A medium of exchange is

• A) an object that sellers will accept as payment.
• B) a measure by which prices are expressed.
• C) an asset that is used to settle future debts.
• D) the thing traded when barter takes place.

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Definitions:

Competing Products

Goods or services that are offered in the same market by different companies and serve as alternatives to each other.

Organic Foods Market

A sector of the food industry that deals with products produced via farming practices which aim to promote ecological balance and conserve biodiversity, avoiding most synthetic pesticides and fertilizers.

Market Segment

A distinct group of potential consumers who share similar needs, desires, and characteristics, targeted by businesses for marketing campaigns.

Cost-based Pricing

Setting the price of a product or service based on the cost of production and distribution plus a markup for profit.