Money Matters Presentation
Definition of Money

Money Matters Money consists of any economic good, or any claim on such a good, that serves as a general medium of indirect exchange and that acts as a final means of payment.


That's it.

Other uses of money:

Medium of exchange
Unit of account
Store of value

do not constitute unique characteristics of money. Other commodities have these uses as well.


Let's examine the essential elements in the definition of money (identified by the color codes above.)