Money, in my understanding, is a medium of exchange that is widely accepted in transactions for goods, services, and debts. It serves as a unit of account, allowing individuals to measure and compare the value of different goods and services. Money also functions as a store of value, enabling individuals to save and accumulate wealth over time. It can take various forms, such as physical currency (coins and banknotes) or digital representations (electronic money, cryptocurrencies). Ultimately, money facilitates economic activities and plays a crucial role in the functioning of modern societies.
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Maria Hitchinson
Nov 14, 2023
Define the function of money that allows it to retain its value over time