Simply put, it’s a note, coin or number.
1. Money, “Money,” is the product of Commodity Exchange.
2. Money is a commodity separated from the commodity world in the process of Commodity Exchange and fixed as a general equivalent. It is a kind of currency, commonly known as money.
It’s also a contract about the right to exchange for the equivalent of labor.
3. Money is a medium for purchasing goods and preserving wealth. It is a contract between the owner of property and the market on the exchange right, and essentially an agreement between owners.
The contractual nature of money determines that it can have different forms of expression, such as general equivalent, precious metal money, paper money, etc. It can be used as a medium of exchange, storage value, deferred payment standard and unit of account.
