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1, money is the product of commodity exchange, which is separated from the commodity world in the process of commodity exchange and permanently used as a universal equivalent commodity. Commonly known as money. Money (CCY) is a tool to measure prices, a medium to buy goods and a means to preserve wealth. It is a contract between property owners and the market about exchange rights, and it is essentially an agreement between property owners. Including currency and banknotes in circulation.
There are still many arguments about the nature of money in academic circles. There are various concepts of money in economics. At first, it was defined by the function of money, and later it was defined as economic variable or policy variable. The technical term is currency, which mainly refers to "currency in circulation". Traditionally, money has the following definitions: 1. Generally accepted goods used to pay for goods, services and debts; 2 as a medium of exchange value, storage, price standards and deferred payment standards; 3. Excessive supply or demand will cause excessive demand for other assets or supply assets; 5. Liquidity assets that do not need to pay interest and are public net wealth.
3. According to the latest monetary theory, money is a contract between property owners and the market to exchange rights, which is essentially an agreement between owners. "I give what I have to the market in exchange for what I need", and money is the agreement of this process. This theory can withstand strict falsification and logical argumentation, explains all economic phenomena related to money, and has been tested by all economic practices, thus ending the debate about the nature of money for hundreds of years.
4. Currency is essentially a contract between owners about exchanging rights, and different forms of currency are essentially unified. In the past, due to people's unclear understanding of the nature of money, money was mistakenly divided into different types from different angles, such as: debt currency and non-debt currency according to the commodity value of money, [2] convertible currency and non-convertible currency according to whether the exchange ratio of precious metals was agreed.