What is money?



Money is any item that serves as a medium of exchange, standard of deferred payment, measure of value, and a store of value.
In this modern age, what most people consider money are the currency notes and coins, and the digital or electronic currencies; but in the olden days, gold, silver, copper, rice, Wampum, salt, large stones, shells, alcohol, cigarettes, cannabis, candy, and many other items were, at some point, considered money since they carry value.


Origination
Most sources points the origination of the word money to the Juno temple which is located on Capitoline—a hill in Rome.


Types of money
There are numerous types of money including fiat money, commodity money, digital money, banknotes, coins, and representative money.


Uses/functions Of Money
There are four major functions or uses of money; those major functions are:
1. Medium of exchange.
2. Standard of deferred payment.
3. Measure of value.
4. Store of value.


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