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In economics, there are various definitions for money, though it is now commonly considered to be any good or token that fulfills the money functions: to be a medium of exchange, store of value, and unit of account. Some authors explicitly require money to be a standard of deferred payment, too *. In common usage, money refers more specifically to currency, particularly the many circulating currencies with legal tender status; deposit accounts denominated in such currencies are also considered part of the money supply.

The use of money provides an alternative to bartering, which is often inefficient because it requires a coincidence of wants between traders. The emergence of some form of money is a natural market phenomenon observed repeatedly across civilizations and is not dependent on any central authority or government. Indeed, the division of labour in any but the most basic of forms cannot occur without it.

Commodity money was amongst the earliest forms of money to emerge. Under a commodity money system, the object used as money has inherent value. It is usually adopted to simplify transactions in a barter economy; thus it functions first as a medium of exchange. It quickly begins functioning as a store of value, since holders of perishable goods can easily convert them into durable money. In modern economies, commodity money has also been used as a unit of account. Gold-backed currency notes are a common derivative form of commodity money.

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Planet the Color of Money #NPRmovies
MichaelKrall (Michael Krall) Wed, 16 Dec 2009 03:55:53 -0000
Planet the Color of Money #NPRmovies
#nprfilms The Color of Planet Money
smendler (Skip Mendler) Wed, 16 Dec 2009 01:53:58 -0000
#nprfilms The Color of Planet Money
RT @davyjonesjr: "Money won is twice as sweet as money earned." -The Color of Money
TMathee (Timothy Patrick) Wed, 16 Dec 2009 01:18:37 -0000
RT @davyjonesjr: "Money won is twice as sweet as money earned." -The Color of Money
@petersagal The Color of Planet Money #NPRfilms
wardepartment (Erin Flachsbart) Tue, 15 Dec 2009 23:22:11 -0000
@petersagal The Color of Planet Money #NPRfilms
The Color of Planet Money #NPRfilms
emoglasses (Nathan Harrison) Tue, 15 Dec 2009 22:09:00 -0000
The Color of Planet Money #NPRfilms
Apparently when you wear two of the same type but different color shoe its to show your money
nuntastic (Brittany Black) Tue, 15 Dec 2009 20:14:59 -0000
Apparently when you wear two of the same type but different color shoe its to show your money

 
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