What Is Money?
Money is the unit of currency in which goods and services are exchanged.
Money is something that most of us are aware of, but when it comes to understanding money, it becomes a little complicated. We all have heard the words “money is the root of all evil”, but is it really true? What is money? Why do we need money? How much money do we need? When do we need money? Can we live without money? What is the use of money?
Let’s understand the meaning of the word money, before answering these questions.
What is money?
According to Merriam-Webster's dictionary, money is the unit of currency in which goods and services are exchanged. This definition clearly tells you that it is the form of payment for any transaction.
Money is a medium of exchange, which is why it is a form of payment, and it has the ability to buy anything and everything.
How much money do we need?
According to Merriam-Webster's dictionary, the amount of money that we need to buy anything is called money requirement. It is the amount of money that we need to spend on buying any goods or services.
When do we need money?
It is one of the most common questions that people ask, “when do we need money?” The answer is, “we always need money, we don’t get it by magic”.
Origin of Money
Money is the most common thing that we use in our day-to-day life. We don’t get up in the morning without asking ourselves how much money do I have.
There are different types of money like paper money, coin, etc. but the basic concept of money is the same. It is the medium of exchange and it is used to purchase goods and services. So, we can say that money is the most important thing in our lives because it is the key to our success and happiness. If you're interested in learning more about money, please check out my site at https://www.nojobdragon.com/.
But, how did the first money come into existence? Well, it is a complex question and there are many answers to this question. Some of the popular answers include gold coins, precious stones, etc. but the fact is that none of these is the correct answer.
The first money came into existence when people started using clay for making vessels. Clay is an organic material and it is a mixture of different elements like iron, magnesium, aluminum, silicon, etc. As it was found to be useful for making different things, people started to use it for the sake of its quality.
In addition to this, clay is also used to make pottery. Now, if you check the history of pottery, you will see that it is more than 2000 years old. The first clay ware dates back to 3000 BC. In the middle of the 2nd millennium BC, the first clayware was invented in China.
Then, in the 15th century, the Chinese people started to make paper using bamboo. They made paper by burning the bamboo and mixing it with water. This paper was made in large quantities and the Chinese government started to use it for printing money.