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Money: What is it?

In this article:
  • Money
  • What is money?
  • What is money used for?
  • Money as a medium of exchange
  • Money as a unit of account
  • Money as a store of value
  • Forms of money
  • Coins and bank notes
  • Balance at the bank
  • Electronic money
  • The most common definition of money is: any object or symbol that is used in trade as a medium of exchange, as a store of value or as a unit of account. According to some experts it is also important that money must be usable as a method to defer payment.

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