Money Defined: A Brief Review Money as a Medium of Exchange a generally accepted means of payment a money as a Unit of Account a widely recognized measure of value Money as a Store of value A transfer of purchasing power from the present into the future Copyright C 2003 Pearson Education, Inc Slide 14-5Copyright © 2003 Pearson Education, Inc. Slide 14-5 Money Defined: A Brief Review ▪ Money as a Medium of Exchange • A generally accepted means of payment ▪ Money as a Unit of Account • A widely recognized measure of value ▪ Money as a Store of Value • A transfer of purchasing power from the present into the future