One point virtually all economists agree on when defining money is that:

Question

Quizplus · Accepted Answer

All of the options listed (spendable, liquid, and accepted as payment) are considered necessary characteristics of money by economists. To be considered money, an asset must be easily and readily convertible into goods and services (spendable), easily tradable for other assets or cash (liquid), and accepted as a means of payment by a wide range of people and businesses (accepted as payment).

One Point Virtually All Economists Agree on When Defining Money