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 ?
I told him my circumstances at large: that I was a widow come over from American, perfectly desolate and friendless; that I had a little money, and but a little, and was almost distracted for fear of losing it, having no friend in the world to trust with the management of it; that I was going into the north of England to live cheap, that my stock might not waste; that I would willingly lodge my money in the bank, but that I durst not carry the bills about me, and the like, as above; and how to correspond about it, or with whom, I knew not.
However, the argument I used, namely, of giving him a general release, and never troubling him any more, prevailed effectually with him, and he sent me a bill for the money by a person who brought with him a general release for me to sign, and which I frankly signed, and received the money; and thus, though full sore against my will, a final end was put to this affair.
In this way things went along all right for a while; but without money they found it very hard.
"You are as anxious to get rid of money as others are to gain it," said he.
At the end of my second year at Hampton, by the help of some money sent me by my mother and brother John, supplemented by a small gift from one of the teachers at Hampton, I was enabled to return to my home in Malden, West Virginia, to spend my vacation.
On the other side, the commodities of usury are, first, that howsoever usury in some respect hindereth merchandizing, yet in some other it advanceth it; for it is certain that the greatest part of trade is driven by young merchants, upon borrowing at interest; so as if the usurer either call in, or keep back, his money, there will ensue, presently, a great stand of trade.
When I pay off, I shall send my money home to wait for me.
'When land is gone and money's spent, Then learning is most excellent.'
For which reason others endeavour to procure other riches and other property, and rightly, for there are other riches and property in nature; and these are the proper objects of economy: while trade only procures money, not by all means, but by the exchange of it, and for that purpose it is this which it is chiefly employed about, for money is the first principle and the end of trade; nor are there any bounds to be set to what is thereby acquired.
"You tell me where your exclusive circles would be if the first Astor hadn't had the money to pay for his steerage passage over?"
Personally and privately, he had to find the money, or to confront the one other alternative-- ruin.
If the weaver was dead, who had a right to his money? Who would know where his money was hidden?