What is Money?
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:
- 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.
- A unit of account, to measure and show the value of something e.g. the price of an apple.
- 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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