Posted: May 12, 2019 11:39 pm
by LucidFlight
It's been more than 15 years since I studied economics, but this is basic stuff. Economics 101, if you will. Good golly. I can almost hear my lecturer talking about it now.

Functions of Money

Money is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account. Medium of exchange. Money's most important function is as a medium of exchange to facilitate transactions.

The subject of money tends to follow from a discussion about the barter system and the inconvenience of, say, trading pigs for a certain number of onions — you know, that sort of thing.


If you want to talk about the difference between money and wealth, that's a rather different discussion.