MONEY

In economic money is defined as a medium of exchange generally accepted in the settlement of debts and payments made for goods and services.

It is a legal tender usually accepted in a country for the exchange of goods and service or sentiment of depts, money takes the form of coins and bank notes.

• It must be accepted by all
• Must be durable and quotable
• Should be scared
• Must have value
• Produce by others
• Should be uniform size

FUNCTIONS OF GOOD MONEY

• It serves at a medium of exchange
• Serves as a measure of value
• Facilitate division of labour
• Makes lending possible
• Makes possible contract to be made in present for future delivery