Money is defined best by what money does. Money – in its various forms – fulfils various key functions including a medium of exchange, a unit of account, a store of value and a standard of deferredpayment.
According to Adam Smith, money is “a neutral medium that facilitated exchange on the ‘great wheel ofcirculation’.”
Author: Chrissy Homenick
Last Updated:
Views: 6205
Rating: 4.3 / 5 (54 voted)
Reviews: 85% of readers found this page helpful
Name: Chrissy Homenick
Birthday: 2001-10-22
Address: 611 Kuhn Oval, Feltonbury, NY 02783-3818
Phone: +96619177651654
Job: Mining Representative
Hobby: amateur radio, Sculling, Knife making, Gardening, Watching movies, Gunsmithing, Video gaming
Introduction: My name is Chrissy Homenick, I am a tender, funny, determined, tender, glorious, fancy, enthusiastic person who loves writing and wants to share my knowledge and understanding with you.