The speaker is telling about 2difinitions of money. Broad definition and narrow definition.
Under the braces difinition money is anything people can use for making purchases with. Such as perpar bills and coins is one form of money. For example You give 5 dollars to a taxi drive for taxi ride then he uses 5dollers to buy vegetable from a farmer. However money has different forms, such the barter system. People can use gods and services to exchanges with other gods and services. Like taxi drive can use a ride to exchange with vegetable from a farmer.
Under the narrow definition. Money is whatever legal trader. In USA people must use coins and bills.the taxi drive is only allowed to take legal trader as their payment.
Under the braces difinition money is anything people can use for making purchases with. Such as perpar bills and coins is one form of money. For example You give 5 dollars to a taxi drive for taxi ride then he uses 5dollers to buy vegetable from a farmer. However money has different forms, such the barter system. People can use gods and services to exchanges with other gods and services. Like taxi drive can use a ride to exchange with vegetable from a farmer.
Under the narrow definition. Money is whatever legal trader. In USA people must use coins and bills.the taxi drive is only allowed to take legal trader as their payment.
