What do you mean by money? (2024)

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Money is any item or verifiable record that is generallyaccepted as payment for goods and services and repaymentof debts, such as taxes, in a particular country or socio-economiccontext. The main functions of money are distinguished as: a mediumof exchange, a unit of account, a store of value and sometimes,a standard of deferred payment. Any item or verifiable record thatfulfils these functions can be considered as money.

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