Definition of money Known as cash or ready money

It is anything that serves as a medium of exchange, a unit of account, and a store of value.

It means more wealth for the issuer

The second country to begin using paper money

Bank in Europe issued the first paper money

Characteristic of money - Objects used as money must withstand physical wear and tear.

Characteristic of money-Everyone must be able to exchange the money for goods and services

Characteristic of money-People need to be able to take money with them as they go about their business.

Characteristic of money-To be useful, money must be easily divided into smaller denominations, or units of value.