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Money
Anything that is generally accepted as a medium of exchange.
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Medium of Exchange
Something that is generally accepted as payment for goods, services, and resources; the primary function of money.
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Value of Money
Measured by the goods, services and resources that money can purchase.
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Barter System
System in which goods and services are exchanged for each other rather than for money.
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Measure of Value
A function of money; the value of every good, service, and resource can be expressed in terms of an economy's base unit of money.
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Method for Storing Wealth and Delaying Payment
A function of money; allows for saving, or storing wealth for future use and permits credit or delayed payments.
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M1
Narrowest definition of the U. S. money supply; includes coins and paper money in circulation, some traveler's checks, most demand deposits
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