Wednesday, October 7, 2009

Money



Money is anything that is generally accepted as payment for goods and services and repayment of debts. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value, and occasionally, a standard of deferred payment. Money is an abstraction, idea or concept, token instances of which are the physical bills or coins which are carried and traded.

No comments:

Post a Comment