Answer to Question #85828 in Microeconomics for Nara

Question #85828
Why all types of economic system benefit from the existence and the use of money?
1
Expert's answer
2019-03-06T09:49:55-0500

Money is one of the fundamental inventions of mankind. It has become so important that the modern economy is described as the money economy. The modern economy cannot work without money. 

Thus, money is a medium of exchange, a measure of value, a store of value, and a standard of deferred payments.

Source:

https://owlcation.com/social-sciences/Functions-of-Money-in-Modern-Economic-System


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