Question

defin money and State its function

Answer 1

Answer:

Money is an economic unit that functions as a generally recognized medium of exchange for transactional purposes in an economy. Money provides the service of reducing transaction cost, namely the double coincidence of wants.

Answer 2

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Money is any object that is generally accepted as payment for goods and services.

Functions of Money are :

• It is a medium of exchange.
• It is a standard of deferred payments.