Web Definition: Cash
Money is an agreement within a community, to use something as a medium of exchange, which acts as an intermediary market good. It can be traded & exchanged for other goods. The agreement can either be explicit or implicit, freely chosen, or coerced. Money is an abstract form of power. As discussed below, money also has other characteristics. Money itself must be a scarce good. Many items have been used as money, from naturally scarce precious metals & conch shells through cigarettes to entirely artificial money such as banknotes. Modern money is essentially a token - an abstraction. Paper currency is perhaps the most common type of physical money today. However, goods such as gold or silver retain many of the essential properties of money. It has been recently discovered that Sometimes the author meant credit & sometimes currency. Read with caution. Money has the following three characteristics. 1.
Read More »Dictionary Entry: A place where money is kept, or where it is deposited and paid out - a money box. To pay, or to receive, cash for - to exchange for money - as, cash a note or an order. To disband.
A Chinese coin.
Abstract from Wikipedia available under GNU FDL - « Read More
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