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.
Read more about Money.
Some articles on money:
... The IMF has said that between $600 billion and $1.5 trillion of illicit money is laundered annually, equal to 2% to 5% of global economic output ... is where most of the world's drug money is allegedly laundered, estimated at up to $500 billion a year, more than the total income of the world's poorest ... "These offshore centers awash in money are the hub of a colossal, underground network of crime, fraud, and corruption" commented Lucy Komisar quoting these statistics ...
... does not go away to her home before some stranger has cast money into her lap, and had intercourse with her outside the temple but while he casts the money, he must say, “I invite you ... It does not matter what sum the money is the woman will never refuse, for that would be a sin, the money being by this act made sacred ...
... Credit theories of money, also called Debt theories of money are concerned with the relationship between credit and money ... Proponents assert the essential nature of money is credit (debt), at least in eras where money is not backed by a commodity such as gold ... strands of thought within these theories are the idea that money originated as a unit of account for debt, and the position that money creation involves the simultaneous creation of money and debt ...
... ducats, but is unable to spend all the money in one day ... Because of that he gives the remaining money to a beggar, who tells him that it's not money that brings luck ... A drunkard and bon-vivant, he has no trouble spending all the money on drinking with his friends ...
... When gold and silver are used as money, the money supply can grow only if the supply of these metals is increased by mining ... situation for over a century when gold and paper money backed by gold were used as money in the 18th and 19th centuries ... Modern day monetary systems are based on fiat money and are no longer tied to the value of gold ...
More definitions of "money":
- (noun): The most common medium of exchange; functions as legal tender.
Example: "We tried to collect the money he owed us"
- (noun): Wealth reckoned in terms of money.
Example: "All his money is in real estate"
Famous quotes containing the word money:
“If you wish to be perfect, go, sell your possessions, and give the money to the poor, and you will have treasure in heaven; then come, follow me. When the young man heard this word, he went away grieving, for he had many possessions.”
—Bible: New Testament, Matthew 19:21,22.
Jesus to a rich young man.
“Hollywood held this double lure for me, tremendous sums of money for work that required no more effort than a game of pinochle.”
—Ben Hecht (18931964)
“In past years, the amount of money that has had to be been spent on armaments, great and small, instead of on productive industry and agriculture and the arts, has been a disgrace to all of us in every part of the world.”
—Franklin D. Roosevelt (18821945)