What is money? Why is there a need of money? If money is not there than everything will be free and as a result there will be no rich,no poor ,everyone equal with no problem and quality of life can improve? Please "justify or give your views on this statement".
Answers
Money is a medium of exchange which is generally accepted as payment for goods and services, repayment of debts, postponed payments and storing values.
▪Money is required for the medium of exchange through which we can buy whatever we want on the base of prices.
▪Money is required for the repayment of debts such as taxes etc.
▪With the help of money we can clear the postponed payments which we agreed for future.
▪It can be stored for future as savings so that people can fulfil their future requirements.
▪Money is needed because it is used as measurement of value. Good and services can be purchased on acceptable prices.
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This statement is not valid. It can only be imagined.
The most selfish and self - centered creature in this world is human being. Even from old age times we always used try to get ownership on resources. Whether it is any good or service. At that time money there wasn't any money circulation but there was the system of commodity exchange,
Barter system is based on the requirements of people from both sides. For instance, if a cobbler wants to purchase cloths than he has to find a shopkeeper who can sale his rice at the exchange of shoes.
Money is useful for its own significance. Financial equality can't be established in a society if money is avoided. To finish the gulf between rich and poor, other precautions can be applied instead of abolishment of money.
Answer:
There are two famous ideologies related to money. One is materialistic and the other is spiritual. Materialism says have as much money as you want through hook or crook. The spiritualism says you can either have God or money. Majority of people follow materialism. And they are not the happiest people!
The wise men of all times have advised the people in general to choose peaceful life. In the world around us, we see many affluent people who have plenty of money without peace and power; they don't enjoy life; money is of little use; the following lines describe the limits of money so beautifully:
"Money can buy you a bed but not sleep. Money can buy you a clock but not time. Money can buy you a book but not knowledge. Money can buy you a position but not respect. Money can buy you medicine but not health. Money can buy you blood but not life." Similarly power is of little use without peace. Who could have been more powerful than Hercules or Hitler? But neither of them had peace. So in conclusion, it can be said, we should be very careful in making a decision between money and other important things in life.
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