Definition of Money - SS1 Economics Lesson Note

Money is any object or record  that facilitates transactions between buyers and sellers. It can take many forms, including physical currency, bank deposits, and digital currencies.  

When a currency is considered "legal tender," it means that it is recognized by law as an acceptable means of payment for debts and taxes. Legal tender laws vary by country and can be complex, but they generally require that certain types of currency be accepted for payment of debts, such as paper money and coins issued by the government.