Money is what people use to buythings and services. Money is what many people take for selling their own things or services. There are many kinds of money in the world. Most countries have their own kind of money, such as the United States dollar or the Britishpound. Money is also called many other names, like currency or cashand paisa(india).
History of money[change | change source]
The idea of bartering things is very old. A long time ago, people did not buy or sell with money. Instead, they traded one thing for another to get what they wanted or needed. One person who owned many cows could trade with another person who owned much wheat. Each would trade a little of what he had with the other. This would support the people on his farm. Other things that were easier to carry around than cows also came to be held as valuable. This gave rise to trade items such as jewelry and spices.
When people changed from trading in things like cows and wheat to using money instead, they needed things that would last a long time. They must still have a known value, and could be carried around. The first country in the world to make metal coins was called Lydia. These first appeared during the 7th century BC, in the western part of what is now Turkey. The Lydian coins were made of a weighed amount of precious metal and were stamped with a picture of a lion. This idea soon spread to Greece, the rest of the Mediterranean, and the rest of the world. Coins were all made to the same size and shape. In some parts of the world, different things have been used as money, like clam shells or blocks of salt.
Besides being easier to carry than cows, using money had many other advantages. Money is easier to divide than many trade goods. If someone own cows, and wants to trade for only "half a cow's worth" of wheat, he probably does not want to cut his cow in half. But if he sells his cow for money, and buys wheat with money, he can get exactly the amount he wants.
Cows die, and wheat rots. But money lasts longer than most trade goods. If someone sells a cow for money, he can save that money away until he needs it. He can always leave it to his children when he dies. It can last a very long time, and he can use it at any time.
Not every cow is as good as another cow. Some cows are sick and old, and others are healthy and young. Some wheat is good and other wheat is moldy or stale. So if a person trades cows for wheat, he might have a hard time arguing over how much wheat each cow is worth. However, money is standard. That means one dollar is worth the same as another dollar. It is easier to add up and count money, than to add up the value of different cows or amounts of wheat.
Later, after coins had been used for hundreds of years, paper money started out as a promise to pay in coin, much like an "I.O.U." note. The first true paper money was used in China in the 10th centuryAD. Paper money was also printed in Sweden between 1660 and 1664. Both times, it did not work well, and had to be stopped because the banks kept running out of coins to pay on the notes. MassachusettsBay Colony printed paper money in the 1690s. This time, the use became more common.
Today, most of what people think of as money is not even things you can hold. It is numbers in bank accounts, saved in computer memories. Many people still feel more comfortable using coins and paper, and do not totally trust using electronic money on a computer memory.
Kinds of money[change | change source]
Many types of money have been used at different times in history. These are:
Commodity money can be used for other purposes besides serving as a medium of exchange. We say it possesses intrinsic value, because it is useful or valuable by itself. Some examples of commodity money are cattle, silk, gold and silver. Convertible paper money is money that is convertible into gold and silver. Gold and Silver certificates are convertible paper money as they can be fully convertible into gold and silver.
Inconvertible money is money that cannot be converted into gold and silver. Notes and coins are inconvertible money. They are inconvertible and are declared by the government money. Such fiat money is a country's legal tender. Today, notes and coins are the currencies used in bank deposits.
Types of bank deposits:
More reading[change | change source]
- Ferguson, Niall (2008). The Ascent of Money: A Financial History of the World. Allen Lane. ISBN 9781846141065
- Davies, Glyn (2010). History of Money: From Ancient Times to the Present Day (Fourth ed.). University of Wales Press. ISBN 9780708317174
References[change | change source]
Other websites[change | change source]
|Wikimedia Commons has media related to Money.|
Early 6th century BC Lydian coin
US-$10,000 Certificate of Deposit, 1875
Money is the medium used by people to buy required goods or services. It is used as the source to fulfill basic needs as well as source of comfort in life.
Essay on Money
Money is the most important source to live a healthy and prosperous life however cannot be compared by the importance of love and care. Both have their own importance and benefits. We have provided some simply written essay on money to help your kids to do better in their essay writing competition. This Money Essay are written in simple English so that any class of student can easily understand it.
Money Essay 1 (100 words)
Money is the most basic requirement of the life without which one cannot fulfil his basic needs and requirements of the daily routine. We can never compare the importance of the money with the importance of love or care. When one need money, love cannot fulfil this requirement and if one need love, money cannot fulfil this requirement. Both are highly required for the healthy life but they have their significance and importance separately. Both are required by us on urgent basis so we cannot rank both on the same scale. We need money everywhere such as to eat food, to drink water or milk, to see TV, news, subscribe newspaper, wear clothe, get admission and many more requirements.
Money Essay 2 (150 words)
Money is the basic requirement of the life without which one cannot imagine a healthy and peaceful life. We need money even buying a little needle. In the modern time, where growth of civilisation is going very fast and following western culture, we need more money because of the increasing prices of everything. Earlier there was a system called barter system in which one was allowed to exchange things to get goods however, in the modern one need only money to buy everything.
The importance of money is increasing day by day as the living has become so costly. The significance of money has increased to a great extent in the field of production, consumption, exchange, distribution, public finance and etc. It plays a very crucial role in determining the input, income, employment, output, general price level of anything, etc.
Money Essay 3 (200 words)
In such a costly and competitive society and world, no one of us can live without money. We need money to fulfil our basic needs of the life such as buying food, and other many basic necessities of life which are almost impossible to buy without money. People in the society who are rich and have property are looked as honourable and respectful person of the society however a poor person is seen as hatred without any good impression.
Money increases the position of the person in the society and gives good impression to him. All of us want to be rich by earning more money through good job or business in order to fulfil all the increasing demands of the modern age. However, only few people get this chance of completing their dreams of being a millionaire. So, money is the thing of great importance all through the life. Money is required by everyone whether he/she is rich or poor ad living in urban areas or rural areas. People in the urban areas are earning more money than the people living in backward or rural areas as the people of the urban areas have more access to the technologies and get more opportunity because of the easy sources.
Money Essay 4 (250 words)
Money is very much required thing in the life however; it cannot buy things like time, love and true care. It can only fulfil the outer needs of the person and not the inner needs like true love. Now-a-days, everything has become so costly but necessary to buy for living a simple life. And what if we have no money, either we would die or suffer more if saved. Money has capability to buy anything virtually and helps us a lot throughout the life. By taking the importance of the money in our life we should never destroy or waste the money without any purpose. We should not compare the money and love because both are required separately to run a successful life.
In this competitive world, everyone wants to get good study with higher education from the popular college and university to get good job in order to earn more money. A person needs more money to fulfil the requirement of the all members of the family especially one who is only working person of the family. He or she needs to fulfil the eating, clothing and living requirements of the family members and for that money is required. Rich people of the society are given particular recognition and popularity however poor people live their life by arranging just food for two times a day. All the changes and differences are just because of the money.
Money Essay 5 (300 words)
Money is really a very important thing for the human beings to lead their life in the satisfactory way. Unlike animals and plants, we need more money everywhere. In order to live in the society, we need to maintain our status and position in the society for which we need money. In order to eat food or drink water, wear cloth, get admission to the school, take medicine or go to the hospital and other many activities we need lots of money. Now the topic arise is, where we got such required money. We need to get higher level study and do hard works to get good job or open our own business which requires more skill and confidence.
Earlier the condition of poor people was very poor because of the pressure of the rich people. They were not helping the poor people and use them only as a servant on the very low salary. However the condition of the poor people has become good as the rule and regulations of the government as been change in order to equalize the condition of both. Now everyone has equal rights to study higher and get good job. Many people understand that money is the origin of the evil in the mind however I do not think so because thinking is the process of human mind and not the creation of money.
I understand and believe that money is the most important key of happiness gifted by the God. It is the human mind to take anything in different ways. Some people take it only to fulfil their physical needs and they never take it heartily however some people understand everything to the money and they can do anything for getting the money such murder, corruption, underworld work, smuggling, promoting bribe, etc.
Money Essay 6 (400 words)
There is no any doubt that money is so essential for our healthy living. Money is almost everything for us to live a life and maintain the good stats in the society. It is the money which fulfils the need of bringing necessary comforts and amenities of the life. If one has money, he/she can get anything in his/her life. It is the money which helps us in developing good personality, improving confidence, makes us able to creditworthiness, improving capacity, increasing capabilities and enhancing our courage to a great level. Without money we feel helpless and alone in this world where no one is ready to help and assist. In the current materialistic world, money is very important and powerful thing without which one cannot live and survive.
Now-a-days, in order to earn more money in wrong ways, bad people are taking help of corruption, bribe, smuggling, murder rich people of the society, and other callous activities by degrading the moral and ethical values of the humanity. Lazy people follow wrong ways to earn money as they understand that these ways are simple and easy however it is not true. One can earn more money in less time and effort but not for long; surely he would be lost in the near future as he is following wrong and weak way. The people who are earning money by following all the rules of humanity earn less money but for long time and they become the high status personality of the society.
People doing corruption save their money as a black money in other countries to keep hidden from the common public and use that money for bad works or increasing their physical luxury. However, common people of the society respects a lot to the people earning money using wrong techniques as they have fear of them and little bit greediness that they can get some money in return whenever required by giving them respect. They are generally called as the bhai or dada or don. Money cannot buy or stay the time as well as cannot give true love and care however highly required by all of us to run the life on the right path. It cannot give time and love however gives happiness, confidence, satisfaction, feeling of well being mentally and physically, makes life easy by solving all the difficulties, and many more.
All the money essay given above are written by the professional content writer to help students in getting fulfilled their needs and requirements. Essay on money is generally assigned to the students to write something in their own way. Money essay is given under the category of general essay. You can get other related essays and related information such as:
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