Question

Write a short note on ‘money’.

Answer 1

Money, a medium of exchange in the form of coins and notes are needed to buy goods and services. Coins and notes are different in different countries. In the United States dollars are used, while in England it is pounds. Long before paper money came into being, the barter system was followed, i.e. exchange of one thing for another. With the passage of time, stones, bricks of salt, shells, and cowries were used as money. Grains, farm produce, cattle, goats, and chickens were exchanged for tools and implements or wages. Later precious metals and eventually paper money started being used. It is our duty to handle and spend money carefully, as earning it requires a lot of effort.