Money

Money is a commodity accepted by general consent as a medium of economic exchange. It is the medium in which prices and values are expressed. It circulates from person to person and country to country, facilitating trade, and it is the principal measure of wealth.

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Description   Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. Wikipedia

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Dictionary definition

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular ...

‎Commodity money · ‎Fiat money · ‎Money supply · ‎Counterfeit money

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What is money in simple words?

A medium of exchange that is centralized, generally accepted, recognized, and facilitates transactions of goods and services, is known as money. Money is a medium of exchange for various goods and services in an economy. The money system varies with the governments and countries.

Why is money called money?

The word money derives from the Latin word moneta with the meaning "coin" via French monnaie. The Latin word is believed to originate from a temple of Juno, on Capitoline, one of Rome's seven hills.

What are 4 types of money?

The 4 different types of money as classified by the economists are commercial money, fiduciary money, fiat money, commodity money. Money whose value comes from a commodity of which it is made is known as commodity money.

What is money and types of money?

The main uses of money are as a medium of exchange, a unit of account, and a store of value. The four types of money are fiat money, commodity money, fiduciary money, and commercial bank money. An example of currency is the U.S. Dollar and the Euro used among the 19 countries of the Eurozone

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