Money is one of the most widely used mediums of exchange. In today’s world, money exists either in physical form or electronic money. Money caters as a medium allowing people to avail goods and services in exchange for money.
Money is able to retain its value throughout the timeline of the transaction. Employees work on an hourly basis expecting to be paid with money. While spending the same on goods and services, money still retains its value.
Money is also responsible for making efficient trades. Acting as a constant unit of exchange, the money adds stability to the economy. Money also caters as a unit of measurement while valuing any commodity or service.