what is money and credit
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Credit money is any future monetary claim against an individual that can be used to buy goods and services. ... Virtually any form of financial instrument that cannot or is not meant to be repaid immediately is credit money.
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Money is a medium of exchange that enables the user make transactions and buy goods and avail services. ... Credit is the money borrowed from a bank or lender based on the promise that the money will be paid back in future along with interest. The flow of credit in an economy controls the money supply.
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