What Is Money?

Money has always been important to the people and the economy. Different things have been used as money at different times. Before the industrial revolution money mainly consisted of gold and silver coins. Nowadays notes are issued by the government of a country and for settlement of debts. So money has changed into various forms with the passage of time. According to the German economist "anything which is declared by the state and is used to pay for goods and services is money".  Every country has its own currency which is used as money in the daily transaction of life.

The government issues money against some reserves of gold in the economy. Every country currency has its own value depending on the economic progress of that country. In the past the gold and coils and in some culture bones and animals skins were used as the money and they were used to exchange for buying of goods from one another.  The money is one which is commonly accepted in the market and has recognition in the market. Everyone who wants to buy or sell any product can use money against any measure for that good. It can be used for the payments as well.

Money is a valuable thing that is use to buy or purchase things needed