Question

What are the two significant roles of money to the lives of poor people

Answer 1

Answer:

Money serves four basic functions: it is a unit of account, it's a store of value, it is a medium of exchange and finally, it is a standard of deferred payment.

Answer 2

The significant roles of money to the lives of poor people could be summarised as below :

• Money only facilitates our life. Passion for life is desirable as one can understand and enjoy it fully.
• Some people live in misery though earning handsomely, but leave the world without enjoying the benefits of such wealth.
• The largest expenditures were housing and transportation.
• Actually, money brings more happiness only when used and shared with others.
• Money is an important element that is used to measure the growth and development of the village.
• Money helps to lift the spirits of the people and makes them feel confident.
• Money helps the villager in buying things that they need for giving themselves a better living.
• To summarize, money has taken many forms through the ages, but money consistently has three functions: store of value, unit of account, and medium of exchange.

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