is income and gold related to each other explain difference between them
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Many people think that money is simply cash. But there is much more to money than that. These days most money is never in the form of cash – it’s just a bunch of numbers sent by electronic means from one computer to another.
So, what is money? As with many words, “money” can have a number of different meanings.
Here’s a definition for money which you may know:
Money: “A medium of exchange”
Note that the medium doesn’t have to be in the form of notes or coins. This definition means that money is a thing that is used to swap for another thing or service.
Here’s a definition for money that you probably haven’t heard of:
“Money is an idea, backed by confidence”.
This definition was said by L. Ron Hubbard. It much more fully defines what money is. Money is just an IDEA. A hundred dollar bill is just a piece of paper. If you want to buy something with it, and the person you are buying from is not CONFIDENT that he also can buy something with that $100 bill, then it is not worth anything. It is only the IDEA of the $100 bill and the confidence that people place in it that makes it worth anything. This point may become more important to your survival at some time in the future.
It may come as a surprise to many that money and wealth are not the same thing. The dictionary gives a number of definitions for wealth, one of which is:
Wealth: “Having a large amount of money or possessions”.
That is the definition that most people think of. However, I will give you another definition which is much, much more important to know:
Wealth: “The ability to survive a certain number of days forward”.
I learned this definition from author Robert Kiyosaki. For how long could you survive if your job ended today?
So, what is money? As with many words, “money” can have a number of different meanings.
Here’s a definition for money which you may know:
Money: “A medium of exchange”
Note that the medium doesn’t have to be in the form of notes or coins. This definition means that money is a thing that is used to swap for another thing or service.
Here’s a definition for money that you probably haven’t heard of:
“Money is an idea, backed by confidence”.
This definition was said by L. Ron Hubbard. It much more fully defines what money is. Money is just an IDEA. A hundred dollar bill is just a piece of paper. If you want to buy something with it, and the person you are buying from is not CONFIDENT that he also can buy something with that $100 bill, then it is not worth anything. It is only the IDEA of the $100 bill and the confidence that people place in it that makes it worth anything. This point may become more important to your survival at some time in the future.
It may come as a surprise to many that money and wealth are not the same thing. The dictionary gives a number of definitions for wealth, one of which is:
Wealth: “Having a large amount of money or possessions”.
That is the definition that most people think of. However, I will give you another definition which is much, much more important to know:
Wealth: “The ability to survive a certain number of days forward”.
I learned this definition from author Robert Kiyosaki. For how long could you survive if your job ended today?
dassristi2016:
Mark as brainlist pls
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