MONEY (PART 1)

Money is a medium of exchange that facilitates trade by eliminating the need for a barter system. It serves as a store of value, a unit of account, and a standard of deferred payment. Money can take various forms, including physical currency like coins and banknotes, as well as digital currency or electronic money. It has evolved over time from early forms of commodity money, such as gold and silver, to paper money and digital transactions. Money enables individuals to acquire goods and services, invest in businesses, and save for future needs. Its role in the economy is crucial, as it provides liquidity, supports investment, and fosters economic activity by enabling the exchange of goods and services in an organized manner.

Subscribe to watch video