What characteristic defines something as money?

Question

Quizplus · Accepted Answer

Money is a medium of exchange that is widely accepted within an economy for the purchase of goods and services. While government declaration or backing may lend credibility to a form of currency, it is not the defining characteristic of money. Notes that can be deposited in savings accounts and assets that earn interest are forms of financial instruments, but not necessarily money in and of themselves.

What Characteristic Defines Something as Money