Money Money Money song by ABBA remains a classic song, an apt title to understand the dynamics of money, how money is equated to inflation and different measures of money aggregates within an economy.
I work all night, I work all day to pay the bills I have to pay
Ain’t it sad?
And still there never seems to be a single penny left for me
That’s too bad
In my dreams I have a plan
If I got me a wealthy man
I wouldn’t have to work at all, I’d fool around and have a ball
Money, money, money
Must be funny
In the rich man’s world
Money, money, money
Always sunny
What is Money ?
- Money is an asset used for payment of goods & exchange
- Medium of Exchange
- A unit of account
- Store of value
Watch the video under the Materials section to know more.