Money
Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given socio-economic context or country. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past, a standard of deferred payment. Any kind of object or secure verifiable record that fulfills these functions can be considered money.
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Famous quotes containing the word money:
“No one would remember the Good Samaritan if he’d only had good intentions—he had money as well.”
—Margaret Thatcher (b. 1925)
“It will be a great day when our schools get all the money they need and the Air Force has to hold a bake sale to buy a bomber.”
—Advertisement. Poster in a school near Irving Place, New York City (1983)
“There is no intrinsic worth in money but what is alterable with the times, and whether a guinea goes for twenty pounds or for a shilling, it is ... the labour of the poor and not the high and low value that is set on gold or silver, which all the comforts of life must arise from.”
—Bernard Mandeville (1670–1733)