Give the meaning and functions of money.
Meaning of money: Money may be anything chosen by common consent as a medium of exchange and measure of value.
Functions of money:
(A) Primary functions:
(a) Medium of exchange (b) Medium of value
(B) Secondary functions:
(a) Store of value (b) Standard of deferred payments (c) Transfer of value
(C) Contingent functions:
(a) Basis of credit (b) Liquidity (c) Maximum utilization of resources
(d) Guarantor of solvency (e) Distribution of National Income
