Money is defined as
A) a person's net worth.
B) anything people generally accept in exchange for goods and services.
C) a by product of a barter economy.
D) any financial instrument that is backed by gold.

Question

Quizplus · Accepted Answer

Money is commonly defined as anything that people generally accept in exchange for goods and services. This can include physical currency, as well as checks, credit cards, and other forms of payment. Money serves as a medium of exchange, a unit of account, and a store of value, making it an important aspect of economic transactions.  Net worth (A) refers to a person's assets minus liabilities, and is not synonymous with money. Bartering (C) involves exchanging goods and services directly without the use of money, and is not considered a modern monetary system. While gold has historically been used as a backing for currencies, modern financial instruments are not necessarily backed by gold (D).

Money Is Defined as