Money

Definition of Money

According to Crowther,

"Anything that is generally acceptable as a means of exchange and which at the same time acts as a measure and store of value."

Thus, Anything is Money, which is generally acceptable as a medium of exchange, and at the same time it must act as a measure and a store of value. Anything implies a thing to be used as money need not be necessarily composed of any precious metal. The only necessary condition is that, it should be universally accepted by people as a medium of exchange.