Frequently, economists discuss money without revealing their premises regarding the source and measure of its value.

Since money "consists of any economic good, or any claim on such a good," it has value for the same reason any other economic good has value—the subjective judgment of individual. And, the measure of that value consists of the perference scales of individuals.

I will discuss how the role of money as a medium of indirect exchange affects money's position on the individuals preference scale.