What is Money?

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Money is something we use everyday to buy groceries or as a means of getting from A to B, but when was the last time you stopped and thought about what it actually is. Put simply, money serves three key purposes: 

  1. A store of value, which means that you can put it in your bank account and know that when you need it, it will still have that same value.
  2. A unit of account, to measure and show the value of something e.g. the price of an apple.
  3. A medium of exchange that people can use to buy and sell from each other.

Now we know a basic definition of what money is, we can take a look back in time to see what came before it. 

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