money defined

“These issues can be resolved by something that represents value. Let’s call it money… These pieces of metal and paper serve to facilitate trade in three ways: they serve as a medium of exchange; they allow value to be stored from one year to the next; and they serve as a unit of account.”

“Basically, money makes trade more manageable… By serving as a medium in the exchance, money acts as a go-between for all the transactions of goods and services that make up the world economy.”

p. 11 “A Beginners’s Guide to the World Economy“, Randy Charles Epping, 1992

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