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)
“Words are wise men’s counters, they do but reckon by them: but they are the money of fools.”
—Thomas Hobbes (1588–1679)
“Under the rules of a society that cannot distinguish between profit and profiteering, between money defined as necessity and money defined as luxury, murder is occasionally obligatory and always permissible.”
—Lewis H. Lapham (b. 1935)