Money serves as a crucial medium of exchange that underpins economic transactions and trade. It is not limited to paper currency but encompasses various forms such as credit cards, electronic transfers, cryptocurrency, and even barter systems.
Money plays a big role in our life,
without it it is very difficult to live
and survive. Money doesn't make
you happier, but it will help you
bring joy to those around you.
Payment Methods
payment by cryptocurrency
barter payment
by payment via a mobile phone
transfer via internet bank
electronic money
by credit card
cash payment
Money is used in all areas of
activity
Money is used to develop...
and many other areas of activity
art
graduation
sport
culture
Types of modern means of
payment
The progress of society does not
stand still. One era is replaced by
another, and new means of
payment are periodically
introduced into economic systems.
If you ask the bank about what
types of money exist in our time,
then the specialist will definitely
inform you about metal, paper and
credit means of payment. They
differ not only in the form of
production, but also in the
concentration of value.
Modern economics distinguishes
five functions of money
1. Measure of value. Money allows
you to estimate the value of goods
by setting prices.
2. Means of circulation. Money
plays the role of an intermediary in
the exchange process.
3. Means of payment. A money
function that allows the payment
time not to coincide with the
payment time, that is, when goods
are sold on credit.
4. Means of accumulation and
savings. The ability of money to
participate in the process of
formation, distribution,
redistribution of national income,
the formation of savings of the
population.
5. The function of world money. It
manifests itself in the relationship
between economic entities: states,
legal entities and individuals
located in different countries
Money is a thing without which it is
very difficult to live in the modern
world
So money isn`t just pieces of paper
it`s a medium of exchange that
facilitates trade
Money is a good that acts as a
medium of exchange in transaction
