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 classic literature ?
Thou mayst keep the cold pieces of the feast, friend, for I mean to live well and lustily while my money lasts and my clothes are gay.
In Rabourdin's system the State exacted no money security; he allowed only mortgage securities; and for this reason: Either the State holds the security in specie, and that embarrasses business and the movement of money; or it invests it at a higher rate than the State itself pays, and that is a contemptible robbery; or else it loses on the transaction, and that is folly; moreover, if it is obliged at any time to dispose of a mass of these securities it gives rises in certain cases to terrible bankruptcy.
He brought back money and toys, at which the widow looked with alarm and jealousy; she asked him always if he had seen any gentleman--"Only old Sir William, who drove him about in the four-wheeled chaise, and Mr.
Silas might have driven a profitable trade in charms as well as in his small list of drugs; but money on this condition was no temptation to him: he had never known an impulse towards falsity, and he drove one after another away with growing irritation, for the news of him as a wise man had spread even to Tarley, and it was long before people ceased to take long walks for the sake of asking his aid.
But the money he got for that too began to go, so he sold the brown suit he wore on Sundays and went on becoming poorer and poorer.
Well, then'' said Isaac, panting and hesitating between habitual love of gain and a new-born desire to be liberal in the present instance, ``if I should say that I would take eighty zecchins for the good steed and the rich armour, which leaves me not a guilder's profit, have you money to pay me?
As for my mother, when we had carried her up to the hamlet, a little cold water and salts and that soon brought her back again, and she was none the worse for her terror, though she still continued to deplore the balance of the money.
You shall have the wizard for a bushel of money, but I must have full measure.
I dare say the money will be recovered, if that was all,' said he, with a desperate indifference, which his father set down to levity; but which sprung from the consciousness of worse behind.
There was not money enough of any kind, in many parts of the country, to pay the salaries of the ministers; so that they sometimes had to take quintals of fish, bushels of corn, or cords of wood, instead of silver or gold.
But when sleep and rest had brought back the strength necessary for the keenness of mental suffering--when she lay the next morning looking at the growing light which was like a cruel task- master returning to urge from her a fresh round of hated hopeless labour--she began to think what course she must take, to remember that all her money was gone, to look at the prospect of further wandering among strangers with the new clearness shed on it by the experience of her journey to Windsor.
I only got the money for that"--he patted the stuff--"by a pure fluke.