money

What can you do with money?

The most obvious ‘function’ of money is simple: it makes it easy for people to buy and sell things. It is seen as a reliable ‘medium of exchange’ between buyer and seller. For this reason alone money is considered central to the workings of the modern economy.
But money has other uses, too. It is a way to store value for the future. For instance, if you were given an ice cream worth £2, you could enjoy it right now, but if you didn’t it would melt – and that ‘value’ would disappear. But if you were given £2 instead, you could spend it any time you like.
Money is also used when businesses price things. If you get your car fixed by a mechanic, you’ll be charged in pounds and pence. The price could be listed in other units (bags of rice, pints of milk, etc) but money offers a shared standard that everyone can use, making it easy to compare prices.