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 ?
W)hile Mabilog and Nava pointed to each other as the true owner of 3L and thus have financial or pecuniary interest in the MOA for towing and clamping, one thing is clear from their accusations and counter-accusations-both colluded to create 3L, to get Garcia to act as its dummy owner, to have the business registered with the DTI and BIR, to secure its business and mayor's permits, and to have it awarded the MOA with the city government without going through a competitive process,' the Ombudsman said.
The court concludes that the failure to carry out an impact assessment of a project does not of itself, in principle, confer on an individual a right to compensation for purely pecuniary damage caused by the decrease in the value of his property as the result of the environmental effects of the project.
In a further analytical advance, to my knowledge unique in the literature, Barrera argues that the unintended burdens imposed on all of us by negative pecuniary externalities in the market are distributed regressively, falling disproportionately on the poor.
A timetable for their implementation, however, will depend largely on the priorities that the IHS places on each, the time required to assemble a cadre of specialists to tackle each step and the availability of human and pecuniary resources to support their implementation.
Key performance measures for the top 10 UK personal and commercial pecuniary loss insurers in 2008.
In its judgments yesterday, the Court held that Turkey was to pay between from e1/430,000 and e1/45,125,629 in pecuniary and non-pecuniary damages for each case.
All four pleaded not guilty to two charges of obtaining a pecuniary advantage by deception.
Specific bequests of property do not carry out income and, thus, do not carry out IRD unless the will or other governing instrument directs that specific or pecuniary bequests be funded with IRD items.
The report analyzes the performance of the personal general insurance sector, providing data on market sizes and profitability for individual accident and health, private motor, personal pecuniary loss and household.
This after Alvarez filed a complaint before the Ombudsman against Floirendo for allegedly having pecuniary interest in a land deal of his banana firm Tagum Agricultural Development Inc.
The Diyarbakyr 2nd Administrative Court on Wednesday announced its ruling in a case filed for pecuniary and non-pecuniary damages by Eunkol's family.
Analysis of key competitors' performance and competitive strategiesLoss, expense and combined ratio data across the accident and health, motor, pecuniary loss and property markets