Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Any item or verifiable record that fulfils these functions can be considered as money.
Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money. Fiat money, like any check or note of debt, is without use value as a physical commodity. It derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for “all debts, public and private”. Counterfeit money can cause good money to lose its value.
The money supply of a country consists of currency (banknotes and coins) and, depending on the particular definition used, one or more types of bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries.
Value (noun)
The quality (positive or negative) that renders something desirable or valuable.
“The Shakespearean Shylock is of dubious value in the modern world.”
“worth”
Value (noun)
The degree of importance given to something.
“The value of my children’s happiness is second only to that of my wife.”
Value (noun)
That which is valued or highly esteemed, such as one’s morals, morality, or belief system.
“He does not share his parents’ values.”
“family values”
Value (noun)
The amount (of money or goods or services) that is considered to be a fair equivalent for something else.
Value (noun)
The relative duration of a musical note.
“The value of a crotchet is twice that of a quaver.”
Value (noun)
The relative darkness or lightness of a color in (a specific area of) a painting etc.
Value (noun)
Any definite numerical quantity or other mathematical object, determined by being measured, computed, or otherwise defined.
“The exact value of pi cannot be represented in decimal notation.”
Value (noun)
Precise meaning; import.
“the value of a word; the value of a legal instrument”
Value (noun)
The valuable ingredients to be obtained by treating a mass or compound; specifically, the precious metals contained in rock, gravel, etc.
“The vein carries good values.”
“the values on the hanging walls”
Value (noun)
Esteem; regard.
Value (noun)
Valour; also spelled valew.
Value (verb)
To estimate the value of; judge the worth of something.
“I will have the family jewels valued by a professional.”
Value (verb)
To fix or determine the value of; assign a value to, as of jewelry or art work.
Value (verb)
To regard highly; think much of; place importance upon.
“Gold was valued highly among the Romans.”
Value (verb)
To hold dear.
“I value these old photographs.”
Money (noun)
A legally or socially binding conceptual contract of entitlement to wealth, void of intrinsic value, payable for all debts and taxes, and regulated in supply.
Money (noun)
A generally accepted means of exchange and measure of value.
“Before colonial times cowry shells imported from Mauritius were used as money in Western Africa.”
Money (noun)
A currency maintained by a state or other entity which can guarantee its value (such as a monetary union).
“money supply;”
“money market”
Money (noun)
Hard cash in the form of banknotes and coins, as opposed to cheques/checks, credit cards, or credit more generally.
Money (noun)
The total value of liquid assets available for an individual or other economic unit, such as cash and bank deposits.
Money (noun)
Wealth; a person, family or class that possesses wealth
“He was born with money.}} {{ux|en|He married money.”
Money (noun)
An item of value between two or more parties used for the exchange of goods or services.
Money (noun)
A person who funds an operation.