“Money, Money, Money” is a song recorded by Swedish pop group ABBA, written by Benny Andersson and Björn Ulvaeus. It was released as a single on 1 November 1976, as the follow-up to “Dancing Queen” (both from the album Arrival). The B-side, “Crazy World”, was recorded in 1974 during the sessions for the album ABBA.
The song (originally titled “Gypsy Girl”) is sung from the viewpoint of a woman who, despite hard work, can barely keep her finances in surplus, and therefore desires a well-off man.
ABBA perform parts of “Money, Money, Money” live in the 1977 film ABBA: The Movie. In the popular musical, Mamma Mia!, the song is sung by the character of Donna as she explains how hard she has to work to keep the taverna in order and her dreams of a better life. In the 2008 film, Meryl
Money makes the world go around. Economies rely on the exchange of money for products and services. Economists define money, where it comes from, and what it’s worth. Here are the multifaceted characteristics of money.
- Money is a medium of exchange; it allows people to obtain what they need to live.
- Bartering was one way that people exchanged goods for other goods before money was created.
- Like gold and other precious metals, money has worth because for most people it represents something valuable.
- Fiat money is government-issued currency that is not backed by a physical commodity but by the stability of the issuing government.
Medium of Exchange
Before the development of a medium of exchange—that is, money—people would barter to obtain the goods and services they needed. Two individuals, each possessing some goods the other wanted, would enter into an agreement to trade.
Early forms of bartering, however,
Object or record accepted as payment
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 main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment.