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Euro banknotes and coins Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. [1][2][3] The primary functions which distinguish money are: medium of exchange, a unit of account, a store of value and sometimes, a …

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Jul 12, 2025 · Money, a commodity accepted by general consent as a medium of economic exchange. It is the medium in which prices and values are expressed; as currency, it circulates anonymously from person to person and country to country, thus facilitating trade, and it is the principal measure of wealth.