The term money mean anything that is accepted for payment of goods (Food, Clothes, etc.) or Services (Cleaning, Cooking, etc.), it also can be used to pay back debt. Its use in society is to mainly be used as a base of trade of value. It is the main standard of payment in society.

Money is both currency and legal tender , and can be used for, demand deposits, savings accounts, and certificates of deposit. In today's economy, currency is the smallest part. of the money supply.

Money has no real value at all, but it is needed because it is the basic element in economics. If we had no money the economy could not function the way it should, because there and there would be not general object that the government could control that is of value. Money is also used as payment for a job for trade or labor.