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Which word refers to any system that uses an exchange medium, whether it's a precious metal or government-printed paper, that can be traded for other goods?

A. price
B. money
C. barter
D. value

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GinnyAnswer

Final answer:

Money serves as a universal medium of exchange in economies, simplifying trade and removing the need for direct bartering.


Explanation:

Money refers to any system that uses an exchange medium, whether it's a precious metal or government-printed paper, that can be traded for other goods. In early economies, various objects like cowry shells, rice, or precious metals were used as forms of money before coins were minted. The concept of money as a widely accepted medium of exchange simplifies trade and eliminates the need for the double coincidence of wants.


Learn more about Money here:

https://brainly.com/question/43552385


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