characteristics of money

• money: anything that is generally acceptable as payment for goods and services or for repayment of debts
• currency: coins and paper bills used as money in a society
• (basic function of money)medium of exchange: enables us to carry out trade and commerce easily
• (basic function of money)store of value: it (usually) holds its value over time
• (basic function of money)unit of account: allows us to measure and compare the value using one scale