Situs Dosen STKIP Siliwangi Bandung - H. Sudiyono, S.Pd., MM.

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Dipublikasikan pada : 14 April 2016. Kategori : .


Editted by ; H. Sudiyono, MM.





Talking About money   our imagination will not be able to lose of buying something or paying for some services, money is any object or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past, a standard of deferred payment. Any kind of object or verifiable record that fulfills these functions can be considered money.


Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money.  Fiat money, like any check or note of debt, is without intrinsic use value as a physical commodity. It derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for “all debts, public and private”. Such laws in practice cause fiat money to acquire the value of any of the goods and services that it may be traded for within the nation that issues it. The money supply of a country consists of currency (banknotes and coins) and usually includes bank money (the balance held in checking accounts and savings accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries. (


The history of money concerns the development of means of carrying out transactions involving a physical medium of exchange. Money is any clearly identifiable object of value that is generally accepted as payment for goods and services and repayment of debts within a market or which is legal tender within a country. As payment for goods and services mean that if we want to have some goods to consume or services we needed, as a common we’ll change them with money, so here money acts as a medium of exchange. On the other hand, if we have debt – in both forms of goods or money – so we have to repay such our debt by money, here money can also be said as the medium of exchange.


Many things have been used as medium of exchange in markets including, for example, livestock and sacks of cereal grain (from which the Shekel is derived) – things directly useful in themselves, but also sometimes merely attractive items such as cowry shells or beads were exchanged for more useful commodities. Precious metals from which early coins were made fall into this second category.


Any item used as money in an economy automatically takes on four basic functions: (1) medium of exchange, (2) unit of account, (3) store of value, and (4) standard of deferred payment. While “buying and selling” means that money is THE medium of exchange, and by far THE most important function of money, money also performs unit of account, store of value, and standard of deferred payment functions.


Sources and edited from : google search.