Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context.

in STEEMBRAINS3 years ago

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MONEY
Money is anything that is generally acceptable as a medium of exchanged for making payments,scttement of delt or other business obligations.

      Types of money ..

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COINS÷ A coins is a metal money with definite amount and weight issual and stamped by the central Authority responsible for the issuance of money in a country.

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PAPER MONEY. As the name indicated it is in form of paper notes which originated from the receipts the golds miths issual to people who kept gold and other valuables with them .

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FORIGN MONEY. This the money of the others countries of the world which serves as many in the foreign exchange market....

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TOKEN MONEY. This the whose intrinsic work as loss than it normal or face value.

5 .
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COMMODITY MONEY. This is used in different parts of the world as medium of exchanged and they are presenty called commodity ..

6.LEGAL TENDER . A legal tender money backed by the force of law in a country which is generally acceptable as a medium of exchanged.

    Function of Money .
  1. As a medium of exchanged .with money you no longer need to took for somebody who has what you want and who at the some time wants what you have .

  2. It measures value of goods and services.
    Money is therefore a parameters of eleterming the worth of goods and services.

  3. As a store of value .
    Money is now used in storing wealth , unless there is inflation,money stored a saved retains it's value of many years..

  4. Money Command variety..
    The existence of money encourages Large quality and varity purchase of goods and services.

  5. Money Encourages Duison of labour and specialration .with the existence of money people land to concent rather on certain accupation and aspect of production processes,to the other people with commodies with money the will earn as the reward for their service.

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