EXPALINATION OF MONEY

Money can be defined as the medium of exchange such as notes, coins, and demand deposits, used to pay for commodities and services. The value or price of item or service is paid for using money.

Currency is a medium of exchange for goods and services. In short, it's money, in the form of paper or coins, usually issued by a government and generally accepted at its face value as a method of payment. Each country has its own currency, Such as RUPPES OF INDIA & DOLLAR OF​INDIAN CURRENCY​ USA CURRENCY

​

​

​

A barter system is known as an old method of exchange. This system has been practised for centuries and long before money was introduced. People started exchanging services and goods for other services and goods in return. ... The value of bartering items is negotiable with the other party.

In everyday life money is used in following ways: It is used as a medium of exchange and facilitates the buying and selling of goods like car house food clothes etc. It is used as deposits with the banks or to keep it at home like fixed deposits bonds etc. It is used for borrowing and lending like loan.​

The first coins were made around 2,500 years ago. Paper money was first used in China over 1,000 years ago. The benefit of metal coins is that they are portable and durable. The original value of a British pound was equal to a pound (in weight) of silver.

FROM ANAIYA & MIRAYA