Accommodation paper is a type of negotiable instrument signed by a party—without receiving value: to facilitate another party in obtaining money or credit.
Barter is a method of trading in which goods or services are exchanged directly for other goods or services without the use of money. It is usually considered cumbersome and limits the scope of trade.
To acquire property, goods, or services in return for money or its equivalent. It can also be used synonymously with bargain.
Currency refers to various forms of money that are in circulation within an economy, serving as a medium of exchange for goods and services.
Historically, coin made of precious metal. Nowadays it may refer to any readily available money, whether paper or metal.
In the Indian subcontinent, the term 'Lakh' (10^5 or 100,000) is commonly used in finance and other contexts to indicate sums of money or quantities. Often used alongside 'Crore' (10^7 or 10,000,000).
A medium of exchange is any commodity or product that is universally accepted in a market for the purpose of trade and that functions as a standard measure of value and wealth.
Money serves as a medium of exchange, a unit of account, a store of value, and a means for deferred payment. It has driven economic development by simplifying the exchange of goods and services.
