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What is Money?
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What is Money?
Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given socio-economic context or country.The main functions of money are:
A medium of exchange
A unit of account
A store of value
Occasionally in the past, a standard of deferred payment.
The money supply of a country consists of currency and bank money. Bank money usually forms by far the largest part of the money supply.
A medium of exchange
A unit of account
A store of value
Occasionally in the past, a standard of deferred payment.
The money supply of a country consists of currency and bank money. Bank money usually forms by far the largest part of the money supply.
rovit- LEADER Of ALL
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Join date : 2012-06-13
Re: What is Money?
Everyone uses money. We all want it, work for it and think about it. If you don't know what money is, you are not like most humans. However, the task of defining what money is, where it comes from and what it's worth belongs to those who dedicate themselves to the discipline of economics. While the creation and growth of money seems somewhat intangible, money is the way we get the things we need and want.
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