Portal:Money

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The Money Portal

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Euro coins and banknotes

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment.

Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar.

The money supply of a country comprises all currency in circulation (banknotes and coins currently issued) and, depending on the particular definition used, one or more types of bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, whose value exists on the books of financial institutions and can be converted into physical notes or used for cashless payment, forms by far the largest part of broad money in developed countries. (Full article...)

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A money-back guarantee, also known as a satisfaction guarantee, is essentially a simple guarantee that, if a buyer is not satisfied with a product or service, a refund will be made.

The 18th century entrepreneur Josiah Wedgwood pioneered many of the marketing strategies used today, including the satisfaction-or-money-back guarantee on the entire range of his pottery products. He took advantage of his guarantee offer to send his products to rich clientele across Europe unsolicited. The money-back guarantee was also a major tool of early U.S. mail order sales pioneers in the United States such as Richard Sears and Powel Crosley Jr. to win the confidence of consumers. (Full article...)
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The tenge (/ˈtɛŋɡ/ or /tɛŋˈɡ/; Kazakh: теңге, teñge, Kazakh pronunciation: [ˌtʲeŋˈɡʲe]; Russian: тенге, tenge; sign:  ; code: KZT) is the currency of Kazakhstan. It is divided into 100 tiyn (Kazakh: тиын, tıyın also transliterated as tiyin). (Full article...)

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