What Is Money?

The following video defines money from an economist’s perspective in a way that goes beyond just the “functions” of money.  The idea of “coincidence of once” allows us to exchange our dollars (money) for goods and services when we meet someone (just once) who has something that we want. In essence, beyond the functions of money, this video explains in more depth that how we use money really defines what it is and is not.

Check Your Understanding

Answer the question(s) below to see how well you understand the topics covered in this section. This short quiz does not count toward your grade in the class, and you can retake it an unlimited number of times.

Use this quiz to check your understanding and decide whether to (1) study the previous section further or (2) move on to the next section.