money

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Money

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

Money

A commodity, asset, or (most commonly) currency that may be exchanged for goods and services. Usually, the domestic government issues its own money and provides penalties to persons and businesses in its jurisdiction that do not accept it. Money and the money supply are integral to determining interest rates, inflation, and especially economic growth. There is no uniform agreement as to what qualifies as money; some economists include more mediums of exchange than other economists. Every society throughout history has used some sort of money, even bartering economies traded for something perceived to be equivalent. See also: Money supply, Liquidity.

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.

money

an asset which is generally acceptable as a means of payment in the sale and purchase of products and other assets and for concluding borrowing and lending transactions. The use of money enables products and assets to be priced in terms of the monetary units of the country (pence and pounds in the UK, for example), and to be exchanged using money as a common medium of exchange rather than the bartering of one product against another. Money also acts as a store of value (money can be held over a period of time and used to finance future payments) and as a unit of account (money is used to measure and record the value of products and assets, as for example in compiling the country's NATIONAL INCOME accounts). See MONEY SUPPLY, MONETARY POLICY.

money

an ASSET that is generally acceptable as a medium of exchange. Individual goods and services, and other physical assests, are ‘priced’ in terms of money and are exchanged using money as a common denominator rather than one GOOD, etc., being exchanged for another (as in BARTER). The use of money as a means of payment enables an economy to produce more output because it facilitates SPECIALIZATION in production and reduces the time spent by sellers and buyers in arranging exchanges. Other important functions of money are its use as a store of value or purchasing power (money can be held over a period of time and used to finance future payments), a standard of deferred payment (money is used as an agreed measure of future receipts and payments in contracts) and as a unit of account (money is used to measure and record the value of goods or services, e.g. GROSS NATIONAL PRODUCT, over time). See LEGAL TENDER.
References in periodicals archive ?
Meanwhile, Indian Embassy first secretary Ram Singh said diplomats would raise awareness of the dangers of illegal moneylenders during meetings with low-paid workers.
He had approached the moneylender to repay a Dh50,000 bank loan but ended up with a debt of Dh600,000 in less than four years.
We had hopes in his words that he would pay the moneylenders money, get their passports and send them home.
The women and children gasped--as soon a statue of Shiva speak as a debtor question the moneylender.
Experts say micro-credit is weaning many women away from unproductive activity like jewellery pawning and from moneylenders.
With the level of personal indebtedness and financial exclusion in Ireland, there is a real danger of compounding the problem by allowing legal moneylenders to charge excessive rates.
Figures released last week by the Central Bank show 360,000 people have used moneylenders to access cash - an increase of 60,000 since 2005.
They have been facing a number of climatic and socio-economic problems in the region including heavy rain falls, harassment by moneylenders, inability to repay debts following crop loss, among others.
Finally Suresh approached the forum, which met the moneylender and informed him that he will not be getting a single fil since he had already received BD5,000 for loaning just BD1,300.
Somewhere in a non- descript village of hinterland south- central India, they strung a moneylender up a lamp- post.
This is obviously because of the play's anti-Semitic strain in the person of Shylock, the Jewish moneylender.
Over and over, biographers have noted the fact that William Shakespeare was himself a moneylender with a lifelong involvement in competitive finance.