Money is anything that is generally accepted as a means of payment, regardless of whether it is backed by a physical asset (such as gold) or guaranteed by the government. Money can take the form of currency, digital payment methods, or even commodities such as livestock or shells, as long as they are widely accepted as a medium of exchange.

Solved

Money Is

Question 23

Multiple Choice

Money is

A) only assets such as gold and silver
B) only fiat in nature
C) anything that is generally accepted as a means of payment
D) acceptable as a means of payment because the government guarantees that it must be
E) only those things backed by gold

Correct Answer: