Money - Money (A) Definition and Meaning: Money is today...

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Money (A) Definition and Meaning : Money is today popularly used in performing almost all economic transactions i.e. activities which includes the transfer of goods or services from one person or organization to another. It may be in the form of cash and currency or bank credit, bank papers like cheques , deposits, drafts, or in other near money forms such as bonds , shares, securities etc. Presently we will begin with officially supplied money in the form of currency notes. Money has a long history and has passed through several evolutionary forms such as wealth in the form of sheep, coins, gold and silver metals and has finally arrived at paper currency stage. Metallic money or coins is called commodity money while paper currency is known as paper money or fiat money . Another category is bank money which includes the credit that banks offer to depositors. Paper currency has been increasingly issued and circulated in the present century. It has several advantages over money in the form of gold or silver. It saves the use of precious metals and is
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This note was uploaded on 11/17/2011 for the course EC ec 201 taught by Professor - during the Fall '10 term at Montgomery.

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Money - Money (A) Definition and Meaning: Money is today...

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