Question

Describe about money and credit

Answer 1

Credit money is any future monetary claim against an individual that can be used to buy goods and services. There are many forms of credit money, such as IOUs, bonds and money market accounts. Virtually any form of financial instrument that cannot or is not meant to be repaid immediately is credit money.

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Answer 2

Money acts as a medium of exchange
money is used to buy goods and services

credit means loan