What is money.

[Ephy]

Money is a medium of exchange that functions as a legal tender and enables a business to take place. Money exists in the forms of coins and notes. Money also takes different forms of currencies that are accepted worldwide for foreign exchange, for example US dollar, Kshs, sterling pound, Japanese Yen, French Franc and Euro.

It is a convenient medium of exchange that can be exchanged for goods and services. Money is used to determine the prices of goods, pay debts, pay for goods and services and also allows someone to make savings and investments. Money can also be in form of cheque to make it possible for one to carry large amounts of or pay for good worthy a lot of money without carrying the money itself what he or she has to do is write a cheque then the cheque is withdrawn to get cash from the bank.

 

[Kennysplash]

Money is a medium of exchange that functions as a legal tender and enables a business to take place. Money exists in the forms of coins and notes. Money also takes different forms of currencies that are accepted worldwide for foreign exchange, for example US dollar, Kshs, sterling pound, Japanese Yen, French Franc and Euro.

It is a convenient medium of exchange that can be exchanged for goods and services. Money is used to determine the prices of goods, pay debts, pay for goods and services and also allows someone to make savings and investments. Money can also be in form of cheque to make it possible for one to carry large amounts of or pay for good worthy a lot of money without carrying the money itself what he or she has to do is write a cheque then the cheque is withdrawn to get cash from the bank.

Money is an entity that is generally acceptable for the exchange of goods and services. Money is essential for a comfortable life, hence we all get involved in one thing or another that can fetch us money that we can use to take care of our daily needs and the make some investments. Admittedly, without money life will be very hard, that is why everyone make decisions that will help them live a better life in the near future. Some go to school to obtain degrees, some go for vocational training, others venture into business. These give avenues to make money and have a comfortable life.

 

[marcusfe]

Money is the important means of exchange generally acceptable for any form of transactions within certain locality or society. Money makes things go round. Some people call it a promisery note. Money is not limited to the currency or the note in use, it is the value placed upon it that makes it more important that every other papers. This value is responsible to why some currency are higher that other currencies.

 

[Mataracy]

Money can be define as anything that can be use as a medium of exchange. Money can be use to transact a business between one person to another. There are something that can be use as a means of transactions like crytocurrency and some other things. In the olden days our forefathers do make use of cowries as a means of exchange for goods or services.

 

[MKhadija]

Money is a medium of exchange that functions as a legal tender and enables a business to take place. Money exists in the forms of coins and notes. Money also takes different forms of currencies that are accepted worldwide for foreign exchange, for example US dollar, Kshs, sterling pound, Japanese Yen, French Franc and Euro.

It is a convenient medium of exchange that can be exchanged for goods and services. Money is used to determine the prices of goods, pay debts, pay for goods and services and also allows someone to make savings and investments. Money can also be in form of cheque to make it possible for one to carry large amounts of or pay for good worthy a lot of money without carrying the money itself what he or she has to do is write a cheque then the cheque is withdrawn to get cash from the bank.

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context.

 

[Dartho]

Everyone already knows what money is all about, i wasn't really expecting this sort of topic. I guess you taking us back to the class room. Your thread looks more like a classroom discussion, never the less its ok for those who haven't see money before or knows what money is about.

 

[Joseph555]

In economics money is said to be a purchasing power and also a general acceptable means of buying, selling and exchange.
In real life money is the power of recognition, without money in our society today, no body will have respect for you and that has dealt a big blow on our social and moral values.
Finally, be reminded that the love of money is the root of all evil.

 

[Maks25]

Money is just a piece of paper at the end of the day. We mustn't forget that. Yes, it puts food on the table and buys us nice things - but there are things that money cannot buy such as dignity. It would be a regrettful mistake to trade these things for money .

 

[BuchiBankz]

Money is an economic unit that functions as a generally recognized medium of exchange for transactional purposes in an economy. Money provides the service of reducing transaction cost, namely the double coincidence of wants. Money originates in the form of a commodity, having a physical property to be adopted by market participants as a medium of exchange. In a lay man language Buying and Selling of goods or service is done through the exchange of Money.

 

[IamDozzy]

Money is a legal tender that has the authority from the government of a country to be used in exchange for goods and services. If by chance the government of a country authorizes the use of stones as legal tender for the exchange of goods and services then it becomes money. Key word is that it has to have a legal backing or else it becomes useless. In the past before the British colonized some African countries, people do what we call Trade by Barter. This basically means if I have a commodity and I don't need but you need it and you have a commodity you don't need but I need it we could simply exchange it. After sometime people started using coweries as means of legal tender. It was when African countries were colonized that currency became a norm in African societies

 

[Kingsley]

Money is any medium that is used as a means of payment that is generally acceptable as a medium of exchange. And it has the backing of the law as a legal tender. A good quality of money should be its general acceptability. Money should be known by everybody using it. Anything that I not generally accepted cant be recognized as money.

 

[Oluwasegun purpose]

money is means of exchange of goods and service,money is what we use in the process of exchanging in return of what we want or need.. There are Many important and use of money,there is no one on earth who do not wish to have money because it play a very important role in our life ,there is so many things in which we use money for ,like buying of food stuff there is no one on earth which to go hungry so we need the help of money to buy food at home,another thing is that we need money to buy material things like clothes because we can't be going around without cloth so we need money to buy clothes,we also need money to get an apartment to live in ...
So with all this you can now the important of money and also what is money ..so everyone need to work and make money....

 

[saoussen5765]

Money is a simple way for getting some urgent needs like water and paying for rent-paying also buying clothes and paying for scholarships.

 

[LoukiaCharilaou]

Money is a medium of exchange. It circulates from person to person and country to country. Money facilitates trade and it is considered to be the principal measure of wealth. This medium is essential in life because you cannot survive without money. You need money to cover your daily needs and your family's needs. Furthermore, money offers financial freedom. When you have the money you can make dreams and plans for the future, you can go to the best universities in the world if you are interested in studying or buy whatever you need for yourself, your family and friends.
For all these reasons, money is important in life. Consequently, it is wise to find a good job, online or offline, in order to earn money. Of course, you must learn to save some money for the future and not spend it carelessly on things you do not really need because life is so unpredictable, especially these days.

 

[Carpon]

Money most not basically be a note or coin. Anything is money as far as it is used for exchange of goods and services. If I decide to accept a stone for a service I offer, then that stone is termed money.
In our commercial world today, money is mostly in form of notes or coins which are used in markets and any other place that exchange is been carried out.

 

[Suba]

Money is not only a medium of exchange, but money must also have a value that can be broken down into small units, limited in number, and can be used as a measuring value, and money must be widely accepted or accepted by all countries. Money must also be verifiable. Money can be censored and controlled by a country through their financial institutions, so if you send a large amount (USD) to Japan, the bank can block it if the money is suspected of being laundered. And also you need to know why the money is different in value, for example, the USD value is different from the Euro and Yen. The main factors that cause differences in the value of money are interest rates, inflation, the ratio of export and import prices, and the interaction of international transactions between supply and demand.