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:
“As I went about with my father when he collected taxes, I knew that when taxes were laid some one had to work to earn the money to pay them.”
—Calvin Coolidge (1872–1933)
“No one in this world, so far as I know ... has ever lost money by underestimating the intelligence of the great masses of the plain people.”
—H.L. (Henry Lewis)
“As to your kind wishes for myself, allow me to say I can not enter the ring on the money basis—first, because, in the main, it is wrong; and secondly, I have not, and can not get, the money. I say, in the main, the use of money is wrong; but for certain objects, in a political contest, the use of some, is both right, and indispensable.”
—Abraham Lincoln (1809–1865)