MEDIUM OF EXCHANGE: The money function in which money is widely accepted in exchange for goods and services. For an asset to function as a medium of exchange it need to have value in use, but only value in exchange. This is one of four basic functions of money. The other three are measure of value, store of value, and standard of deferred payment. THE primary function of money is to act as THE medium of exchange. People use money to buy and sell goods. Buyers give up money and receive goods and sellers give up goods and receive money. Money makes transactions easier because everyone is willing to trade money for goods and goods for money.

     See also | money | money functions | unit of account | price | unit of account | store of value | standard of deferred payment |

MEDIUM OF EXCHANGE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: July 21, 2026].

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The positive difference of the value of goods and services exported out of a country less the value of goods and services imported into the country. A balance of trade surplus is the official term for positive net exports that occurs when exports exceed imports. A balance of trade surplus is also termed a "favorable" balance of trade because it results in a net inflow of monetary payments into the domestic economic from the foreign sector, which tends to be beneficial to a country. The alternative is a balance of trade deficit in which imports exceed exports.

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