Medium of Exchange

Medium of exchange is what a buyer uses to purchase either a good or service from a seller, in virtually cases this is going to be currency. Money is an accepted medium of exchange because we k instanter that we will be qualified to obtain goods and services if we have the money to purchase them. Unit of look is used to measure and nature economic value. This means that we use this when the amounts will be measured in dollars and not the quantity of goods.The stemma of value is when someone will slip away the money that they have received for a good or service and spend it in the future on a good or service for themselves. unmatched example of using money as a unit of account is my student loans. Right now there are no remunerations on the loans but in the future they payments will be measured in amounts of money.I do run my own business making jewelry when accepting payment for my jewelry I will use store of value which means that I will keep the money that I make selling my jewelry for future purchases that I may make. I may decide to purchase more supplies or even putting the money in my savings account to build up. When using money as a medium of exchange the one example that comes to object is shopping at the grocery store. This is a place where money is the only medium of exchange and the money is always accepted for the groceries that one buys.