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:
“For the people in government, rather than the people who pester it, Washington is an early-rising, hard-working city. It is a popular delusion that the government wastes vast amounts of money through inefficiency and sloth. Enormous effort and elaborate planning are required to waste this much money.”
—P.J. (Patrick Jake)
“When money disappears, we soon understand the power of absence.”
—Mason Cooley (b. 1927)
“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)