Surgery

Study finds weight loss surgery cost disparity

A new study from the University of Georgia finds that users of public insurance are paying more for bariatric weight loss surgery compared to private insurance patients.

Psychology & Psychiatry

Study: Money can't buy love – or friendship

While researchers have suggested that individuals who base their self-worth on their financial success often feel lonely in everyday life, a newly published study by the University at Buffalo and Harvard Business School has ...

Health

Medicaid expansion reduce cancer, saves black lives

Expanding Medicaid in North Carolina could sharply lessen the burden of colon cancers in the state and save the lives of thousands of Black men as well as improving access to care for men of all races, researchers report ...

Medications

Feds to let states tap opioid funds for meth, cocaine surge

Alarmed by a deadly new twist in the nation's drug addiction crisis, the government will allow states to use federal money earmarked for the opioid epidemic to help growing numbers of people struggling with meth and cocaine.

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Money

Money is anything that is generally accepted as payment for goods and services and repayment of debts. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value, and occasionally, a standard of deferred payment.

Nearly all contemporary money systems at the national level are fiat money systems. Fiat money is without value as a physical commodity, and 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 national boundaries of the country, for "all debts, public and private". By law, the refusal of a legal tender (offering) extinguishes the debt in the same way acceptance does. Some bullion coins such as the Australian Gold Nugget and American Eagle are legal tender, however, they trade based on the market price of the metal content as a commodity, rather than their legal tender face value (which is usually only a small fraction of their bullion value).

The money supply of a country is usually held to consist of currency (banknotes and coins) and 'deposit money' (the balance held in checking accounts and savings accounts). These demand deposits usually account for a much larger part of the money supply than currency. Deposit money is intangible and exists only in the form of various bank records. Despite being intangible, deposit money still performs the basic functions of money, as checks are generally accepted as a form of payment and as a means of transferring ownership of deposit money.

More generally, the term "price system" is sometimes used to refer to methods using commodity valuation or money accounting systems.

This text uses material from Wikipedia, licensed under CC BY-SA