What is money, and what are its characteristics, functions, and forms?

"Money is anything that is acceptable as payment for goods and services. For money to be a suitable means of exchange, it should be scarce, durable, portable, and divisible. Money functions as a medium of exchange, a standard of value, and a store of value. Cash held in the form of coins and paper money. Money kept in checking accounts that can be withdrawn by depositors on demand. Deposits at a bank or other financial institution that pay interest but cannot be withdrawn on demand. The total amount of readily available money in the system; includes currency and demand deposits. A term used by economists to describe the U.S. monetary supply. Includes all M1 monies plus time deposits and other money that is not immediately accessible. The U.S. money supply consists of currency (coins and paper money), demand deposits (checking accounts), and time deposits (interest-bearing deposits that cannot be withdrawn on demand)."