money

Money

1. A commodity or asset, such as gold, an officially issued currency, coin, or paper note, that can be legally exchanged for something equivalent, such as goods or services.

2. As defined by common law: a medium of exchange authorized or adopted by a domestic or foreign government and includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more nations.

Notes:

Also know as Moola, Dinero, Bread, or Cash.

See also: Currency, Fiat Money, Finance, Gold Standard, Money Market, Seigniorage

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Money

Currency and coin that are guaranteed as legal tender by the government, a regulatory agency or bank.

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money

A generally accepted medium for the exchange of goods and services, for measuring value, or for making payments. Many economists consider the amount of money and growth in the amount of money in an economy very influential in determining interest rates, inflation, and the level of economic activity. There is some disagreement among economists as to what types of things actually should be classified as money; for example, should balances in money market funds be included. See also money supply.