Money is any commodity, which is generally accepted as a medium of exchange for goods and services or for the payment of debt. - List and explain the three different definitions for money in South Africa. These definitions are used to determine the quantity of money. The amount that various participants in the economy plans to hold in in the form of money balances is known as the demand for money. -List the motives for holding money. -Using a graph illustrate and explain how the motive for holding money relates to the demand for active balances (L1). Let interest rate (i) be on the X-axis and quantity of money (M) on the X axis. (6) -Explain why money is not income.