What are the different forms of money?

There are several different forms of money that are used around the world. The most common form of money is physical cash, which includes coins and banknotes. These are tangible objects that people can physically hold and exchange for goods and services. Another form of money is digital or electronic money, which exists in electronic form on computers or mobile devices. This includes debit and credit cards, online payments, and digital currencies like Bitcoin. Additionally, there are also financial instruments such as checks and promissory notes, which represent a promise to pay a certain amount of money to the holder. Overall, these different forms of money facilitate the exchange of value in various ways, providing individuals and businesses with means to transact and participate in economic activities.

This mind map was published on 17 September 2023 and has been viewed 51 times.