Q.Explain the meaning of money.

Money is defined less by what it is physically made of and more by what role a community lets it play.

In economics, money is anything that is generally accepted, by law or by common consent, as a medium of exchange, a measure of value, and a means of settling debts. The key phrase is 'generally accepted': a currency note carries no value as mere paper, but because every buyer and seller in the economy is willing to accept it in exchange for goods, services, and debts, it functions fully as money. This is why money is often described functionally — as 'anything that does what money does' — rather than by referring to any particular physical material, since history shows commodities, metals, paper, and bank entries have all served as money at different times.

Defining money only as 'currency notes and coins' — this misses bank deposits, cheques, and digital money, all of which also function as money in a modern economy.