The Function of Money

The Function of Money

Sean Oh

           Money has always been a key part of our lives for the reason that we always use it. We use it to buy things, we use it to borrow things, and we use these to live. Although maybe you’re thinking, “What is the real function for money?” Find out right here.

Back then, when there was no money, people used more than just money to get things they wanted. They needed to give any household thing they had, like cattle, food, and animals for items like gold, silk, and clothes. It was pointless, because you were losing something that was more important than money itself, and now you’ll just have to trade your way to success, which apparently does not go very well if you do not collect things very well.

But then, if all you have is money, and you get money by working at a job, you can buy things with money instead of your prized possessions. Money takes work to get it and not just trading, but spending to get, because there’s always another way to get it yourself.

Today, money can be found on the floor in shops, in your bank account, after job hours, and many more places that you can really “uncover the X marks the spot”. It really pays off to have money to spend on. Maybe money is the top thing to get, but one thing’s for sure: Money is one of those things that are going to stay, whether we like it or not.

Money has been the main progression over time, and it turns out that things are getting pumped now because of it. I think money will advance the limit over the trading and goods. In fact, it is a key factor to our lives today.

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The Function of Money

3 thoughts on “The Function of Money

  1. seandaddy says:

    Reply : The Function of Money

    I usually ask a question in the principle of economics as follows: “What do you think about Economics?” In other words, “How can you summarize Economics in one word?” In general, the first word I can hear from the students is “Money.” Strictly speaking, there are a lot of other more important words to explain economics except money. People use the term, “money” with broad meaning but in economics we should use other terms instead of money. Usually economists use profit, wage, income, GDP, revenue, cost and so on instead.

    Economists use the term, money very specifically like currency. There are several different versions of the definition of money but it always start with the currency. The function of money can be summarize mainly three roles as the medium of exchange, the unit of account, and the store of value. For example, in old days people barter apples with bananas before we invent the currency. It is not convenient because all goods cannot be divided easily and some goods are perishable. If you want to know more specific please read the link what I posted before.

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