A Medium of Exchange Is

question 92

Multiple Choice

A medium of exchange is

• A)the only job of money.
• B)the least important job of money.
• C)the most important job of money.

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Definitions:

Entry Barriers

Obstacles that prevent or hinder new competitors from easily entering an industry or area of business, potentially including high startup costs, stringent regulations, or strong brand loyalty among consumers.

Patent

An exclusive right given to inventors to produce and sell a new product or machine for 20 years from the time of patent application.

Imitation

The action of using someone or something as a model and copying their behavior or actions.

Legal Expenses

Costs associated with legal advice, litigation, or other legal activities which individuals or businesses might incur.