The classification of money that describes money that can be assessed quickly and easily is M1.
Money is anything that is generally accepted as a means of payment for goods and services and for repayment of debt. Example of money are paper money and coins.
M1 is the type of money that is regarded as the most liquid form of money. It includes currency - coins and paper money and money that can easily be converted to money e.g. savings deposit. M1 earn the least amount of interest due to its high liquidity. M1 is also known as narrow money.
For example, the money in your wallet is easily accessible and can be used to make payments compared to money invested in the stock market. There are a lot of processes before you can liquidate your investments in the stock market. Thus, money in your wallet (M1) is more liquid and accessible than money in the stock market.
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