What are the Functions of Money?

[Suba]

Every day we always transact using money, whether receiving, paying, sending or just saving in the bank, currency has also become a country's logo, such as USD, AUD, PESO, YEN, NAIRA, INR, IDR etc. and each currency from a country will have a different value (exchange rate), even a country's economy will not be able to run without money. But unfortunately until now I don't understand what the functions of money are, can you explain what the functions or roles of money are in our lives?

 

[eLdavis]

Money is used for a lot of things, therefore it has a lot of functions. Money is part of the things we need to survive.

 

[Starmix]

The function of money is to allow the money holder to buy what he wants, to send a child to school, to operate a business to spend for weddings he he, to buy food, to buy love and make money owner living comfortably.

 

[Suba]

The function of money is to allow the money holder to buy what he wants, to send a child to school, to operate a business to spend for weddings he he, to buy food, to buy love and make money owner living comfortably.

I agree with you, which means money can be used to buy goods which means money can function as a medium of exchange, and if you already have a lot of money and live comfortably it means money functions as a store of wealth.

 

[Fidelia]

Money is used for exchange for goods and services and can be used as a store of value. Money can also be used a form of security.

 

[Suba]

that's right, one of the benefits of money is as a store of value where the money we have now can be used in the future such as saving money for retirement funds, creating emergency funds, etc.

 

[Kross]

Money is simply used to exchange for value that is found in goods and services. That was the primary reason money was introduced.

 

[Stardom22]

For sure money is almost everything. It serves as the main means of exchange for goods and services for the truth of the matter.

 

[Suba]

For sure money is almost everything. It serves as the main means of exchange for goods and services for the truth of the matter.

That's right, money has many functions so it's not only a means of exchange, but money can also be used as a unit of account or to show the value/price of an item.

 

[King Belieal]

Money is used to determine the value that a particular thing has. It is a viable store of value.

 

[Stardom22]

For sure money is used to measure the wealthy of individuals, companies, firms among other things in the world.

 

[Starmix]

I agree with you, which means money can be used to buy goods which means money can function as a medium of exchange, and if you already have a lot of money and live comfortably it means money functions as a store of wealth.

Without money, no survival. Money functions in the way that aligns people's essential needs. It's money that keeps us alive.

 

[Trush Jodie]

Money is the means that people use to get what they want and don't have access to. Money has evolved in so many ways in history.

 

[Suba]

Money is the means that people use to get what they want and don't have access to. Money has evolved in so many ways in history.

That's right, money can be used by people to get what they want, meaning money functions as a medium of exchange. In addition, money can also be used as an asset transfer such as exchanging land for gold which is first measured in monetary units.

 

[Min George]

Money is the measurement of assets and values you posses. Money is also a means of exchange. The role money plays in our daily lives can never be over emphasised as it remains the very essence of our existence and we'll ever live to pursue and acquire it

 

[Augusta]

Money serves several functions: a medium of exchange, a unit of account, a store of value, and a standard of deferred payment