Question

defination of money in economics.

Answer 1

Money is what money does... It is defined as an instrument that serves as a medium of exchange , store of value , a measure of value and a standard for deferred payments....
OR
A thing which is commonly accepted as a medium of exchange is called money..... I hope it will help u....

Answer 2

Economists, however, have a language all their own when it comes to money. They define it as something that serves as a medium of exchange, a unit of accounting, and a store of value. Money is a medium of exchange in the sense that we all agree to accept it in making transactions.