Used of money

The token known as money came from the valuable commodity like gold that generally accepted as payment to buy goods. It also use to buy services and repayment for debt. The main uses of money are as a medium of exchange, a unit of account and a store of value. Some authors explicitly require money to be a standard of deferred payment.

Money includes both currency, particularly the many circulating currencies with legal tender status and various forms of financial deposit accounts such as demand deposits, saving account and certificates of deposit. In modern economies, currency is the smallest component of the money supply.