Money Control

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In economics, money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context.

What is money?

- A medium of exchange

- A unit of account

- A store of value

Note: Credit card is not considered as money but counted as debit.

The Origin of Money

Money should be

-Easily standardized

-Widely accepted

-Easily portable

-Durable

-Divisible

Evolution of the payment system

Commodity Money -> Fiat Money -> Cheques -> Electronic Payment -> E-Money


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