Money is essentially defined by
A) the intrinsic value of what is being used as money.
B) the judicial branch.
C) the government.
D) social usage.

Question

Quizplus · Accepted Answer

Money is essentially defined by social usage, meaning that it has value because people agree to accept it as a medium of exchange. Money only has value if it is widely accepted and recognized as a means of payment. The intrinsic value of paper money or coins is generally much lower than their face value, meaning that they are only valuable because people are willing to accept them as payment for goods and services. While the government does play a role in regulating and controlling money, it is ultimately the social acceptance and usage of money that gives it value.

Money Is Essentially Defined by