The last couple of days I’ve been watching the sort of movies that challenged me to think about money theoretically.So to brush up on stuff I last had to deal with some 15 years ago I’ve been surfing the net for the sort of stuff found in basic economics books.In case you too need a small revision or you are totally new to economics here’s a chance to catch up.
BTW I’ve tried to make the whole experience as un lecture like as I can.Enjoy!
Definition : What is Money?
Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context.
Examples of Money:Cowrie shells,beads,metal coins,paper money,electronic money etc.
Since money involves so many things it is identified by the functions it performs.Any kind of object or secure verifiable record that fulfills these functions can serve as money. Read more of this post