Money plays very important role in our everyday life explain
- To buy goods and services like in market money can be used to buy clothes, vegetables, etc.
- To deposits in banks so that money can be saved and used for future use. For example—if a labourer deposits his monthly salary in his bank account, then, he can use it in instalments during the entire month.
- As a store value. For instance, we cannot store perishable goods like milk, grain, etc., to exchange goods in future. However, we can buy precious metals like gold and save it for future use.
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| Money plays very important role in our everyday life explain |
Money plays very important role in our everyday life explain
- To buy goods and services like in market money can be used to buy clothes, vegetables, etc.
- To deposits in banks so that money can be saved and used for future use. For example—if a labourer deposits his monthly salary in his bank account, then, he can use it in instalments during the entire month.
- As a store value. For instance, we cannot store perishable goods like milk, grain, etc., to exchange goods in future. However, we can buy precious metals like gold and save it for future use.
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