money economy (C1)
noun phrase
Pronunciation: ˈmʌni ɪˈkɒnəmi
Definition
An economic system where goods and services are exchanged using a medium of exchange (like currency) rather than through direct barter of goods and services. This system allows for more complex transactions and specialization.
Examples
The shift from a barter system to a money economy allowed for greater economic growth and trade.
Most modern nations operate within a complex money economy, relying on banks and digital transactions.
How to Use money economy
- transition to a money economy (collocation)
- the process of changing from barter to a money-based system — "Many ancient civilizations experienced a gradual transition to a money economy."
- fully developed money economy (collocation)
- a sophisticated economic system using currency — "Modern industrial nations typically have a fully developed money economy."
Synonyms of money economy
Words with a similar meaning to money economy:
Antonyms of money economy
Words with the opposite meaning to money economy:
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