A gallon of gasoline Money's role as a store of value.
In summary, although money has taken many forms over the centuries it has consistently served three functions. It is a store of value a unit of account and a medium of exchange. Modern economies use fiat currency. It is neither a commodity nor money represented or backed by a commodity.
Money's main function is as a medium of exchange that facilitates transactions. Without money, all transactions must be settled by barter. Bartering is the direct exchange of one good or service for another. Money plays a role in economics according to its main functions medium of exchange store of value and unit of account.
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