Description on money
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Something which helps us to buy something.
Money is a thing which has no value of itself.
It can be transferred from one person to another person.
It has overcome the problem of Barter System.
Money is a thing which has no value of itself.
It can be transferred from one person to another person.
It has overcome the problem of Barter System.
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U can define money as an item or verifiable record that is generally accepted as payment for goods,services . The main functions of money are distinguished as:
a medium of exchange;
a unit of account;
a store of value;
a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money.
a medium of exchange;
a unit of account;
a store of value;
a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money.
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