Question

What is money and discuss it's type

Answer 1

Answer:

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Explanation:

Traditionally, economists considered four main functions of money, which are a medium of exchange, a measure of value, a standard of deferred payment, and a store of value. ... ADVERTISEMENTS: In simple words,money can be defined as a medium for transaction of goods and services.

Answer 2

Answer:

Money is any good that is widely used and accepted in transactions involving the transfer of goods and services from one person to another. Economists differentiate among three different types of money: commodity money, fiat money, and bank money. Commodity money is a good whose value serves as the value of money.

Explanation:

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