Why Money is Superior to Bartering: Advantages of Using Currency

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Money offers significant advantages over bartering as a medium of exchange. Unlike bartering, which requires a double coincidence of wants (both parties needing what the other possesses), money serves as a universally accepted means of payment, streamlining transactions. It also acts as a store of value, allowing individuals to save wealth over time. Furthermore, money functions as a unit of account, providing a standardized way to measure the relative value of goods and services, facilitating economic calculations and comparisons, ultimately promoting efficiency and economic development.

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