Choose the best definition of 'money' from the following:
A)the arrangements that can be used to settle commercial transactions
B)cash
C)the instruments that can be used as a means of exchange
D)the supply of funds from surplus units for use by deficit units.
E)None of these.

Question

Quizplus · Accepted Answer

Money refers to the instruments or objects that are widely accepted as a means of payment for goods, services, or debts. These instruments can include cash, checks, credit cards, and digital forms of payment. Option C defines money most accurately as it includes all the different instruments that can be used as a means of exchange. Option A refers more to payment systems, while option B is too narrow as it only considers physical currency. Option D refers to the flow of funds in an economy, but does not define money.

Choose the Best Definition of 'Money' from the Following