What is money? Money is any good that is widely used and accepted in transactions involving the transfer of goods and services from one person to another. Economists differentiate among three different types of money: commodity money, fiat money, and bank money. Commodity money is a good whose value serves as the value of money. Gold coins are an example of commodity money. In most countries, commodity money has been replaced with fiat money. Fiat money is a good, the value of which is less than the value it represents as money. Dollar bills are an example of fiat money because their value as slips of printed paper is less than their value as money. Bank money consists of the book credit that banks extend to their depositors. Transactions made using checks drawn on deposits held at banks involve the use of bank money.
Definition of Money (2024)
Top Articles
Why Did Adin Ross And Pami Break Up?
A Tale of Love: Why Did Adin Ross and Pami Break Up? - EmergeWomanMagazine
Audacity: Anleitung und Tipps für Einsteiger
Installing and updating Audacity on Windows
BasketBros Unblocked
Basketbros Unblocked: 2023 Guide For Free Games In School/Work
MelanCholianna APK 2.0.3 Download Latest Version Free - APKTodo
MelanCholianna APK v2.0 Free Download for Android
Just Busted Giles County Tn
Schauspieler Heinz Schimmelpfennig
Latest Posts
Apartment Life hiring Offsite Event Coordinator in Omaha, NE | LinkedIn
J’ai lu la biographie de Noémie Dufresne pour que vous n’ayez – surtout – pas à le faire
Article information
Author: Margart Wisoky
Last Updated:
Views: 6369
Rating: 4.8 / 5 (58 voted)
Reviews: 89% of readers found this page helpful
Author information
Name: Margart Wisoky
Birthday: 1993-05-13
Address: 2113 Abernathy Knoll, New Tamerafurt, CT 66893-2169
Phone: +25815234346805
Job: Central Developer
Hobby: Machining, Pottery, Rafting, Cosplaying, Jogging, Taekwondo, Scouting
Introduction: My name is Margart Wisoky, I am a gorgeous, shiny, successful, beautiful, adventurous, excited, pleasant person who loves writing and wants to share my knowledge and understanding with you.