WEALTH

Money is anything that is generally accepted as payment for goods and services.The main uses of money are as follows medium of exchange ,a unit of account ,and a store of value .There are different kinds of money .Eg Credit Money and Fiat Money etc.Fiat Money is any money whose value is determined by legal means ,rather than the strict availability of goods and services which are named on the representative note .Credit Money is any claim against a physical or legal person that can be used for the purchase of goods services . Credit money differs from Fiat money in two ways ,it is not payable on demand (although in the case of fiat money ).Demand payment is a purely symbolic act since all that can be demanded in other types of fiat currency .Money can be represented in different forms for example paper or coins.Money must be portable so that transactions could be carried easily.Eg if we were to use cows as money they will definitely refuse to go shopping or they would not fit in the purse.Or the ice will simply melt in our pockets so money has to be non perishable to avoid these kind of problems from occuring.