What is meant by the statement "money is a medium of exchange"? A) Money is a measure of societal status. B) Money is a measure of a product's value. C) Money can be traded for goods and services. D) Money can be acculumated as a form of wealth.

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Kadyn Maddox

1 July, 20:24

What is meant by the statement "money is a medium of exchange"? A) Money is a measure of societal status. B) Money is a measure of a product's value. C) Money can be traded for goods and services. D) Money can be acculumated as a form of wealth.

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Jacquelyn Cooley · Answer 1

The correct answer to this question is alternative C) "Money can be traded for goods and services."

When the statements says that money is a medium of exchange, it literally means that it can be exchanged, or traded for something else, be it a service or a specific item. That's precisely what option C reads, and for that reason, it's the correct one.

Katherine Levy · Answer 2

i put C i just awnsered this on USAtestprep