Can You Discuss The Importance Of Money.

16 Answers

Sajid Majeed Profile
Sajid Majeed answered
Today money is considered one of the out standing inventions of the entire history of mankind. The introduction of money has eliminated all the difficulties of Barter system in which goods have to be exchanged for goods. Money facilitates trade by acting as a medium of exchange and standard of value. It has made easy to save wealth for future. It has played a significant role for the specialization in business through division of labour. Although money itself creates nothing but it is very helpful in the process of production, consumption and exchange;
Without money it is not easy for the producer to distribute product which is not divisible like "Bus" or motorcar among the four factors of production.
The price mechanism controls the capitalistic economy. In a free enterprise economy many decisions like what to produce, how to produce, where to produce and for whom to produce are guided by the profit motives. Money prices reflect the aggregates of individual demands and supplies.
People can sell and buy the goods and services which they need by parting with money. I the absence of money a great variety of things would never have entered in our consumption list, and our satisfaction would have been at the lowest level.
Anonymous Profile
Anonymous answered
I think money is everything in our life and if the person have lot of money everyone respected him and helped him.without money life can 't be happier in present time ... So money   means power ,control ,security , happiness and exchange of goods and services
Ayeza Sumsam Profile
Ayeza Sumsam answered
Merry, money is that very important thing that almost every person existing on the face of earth needs to live. Money is what we need to have in any circumstances to breathe.

Money is surely very important for our lives. If we don't possess money, in no time span, we will be found on a footpath and that too without any food, clothing and shelter. Money is needed by parents to educate their children and turn them from nobody to somebody. Children, in turn need money to support their parents as well as their families. Businessmen requires heavy sums of money to start their business, invest and then establish themselves as well-known businessmen in the market of business.

Many people quote that if one desires and wishes to be happy and to see and witness his family being happy, then the only key to this happiness is a large amount of income. People also claim that if a person says that money can not make anyone happy, then this means that he had never possessed any money! I know that it is funny and tremendously hilarious! So, to conclude, according to my opinion, money is extremely significant for a man to lead his life happily and comfortably!
Anonymous Profile
Anonymous answered
I think money is important its because money facilitates  trade, stimulates production, and accelerates economic growth....,
Muhammad Suhail Ajmal Profile
Money is an important part of our life. We buy with money from a shop or a market or a vendor. I would like to give an example of the past when money was not known to give its significance. Just before the introduction of money, man had been getting all the needed through barter. Barter means exchanging goods with goods.

But even in the beginning of the history, the barter system was also not known. People were making and producing things for themselves. They were growing their food, making tools for work, hunt the animals for food and build their houses.

But you can see it is a lot simpler and a lot more convenient to buy with money. In the first place, you may not be in a position to produce things and thus offer your products to get the things that you need. Secondly, you don't need to carry things on you all the time to trade. These days you only have to go to a shop or a market with a few currency notes in your purse or pocket. You can buy anything under the sun with money.

You can have the idea of its significance now by getting profit on money. There is an old saying that money makes money. Indeed if you have money you can grow large and make progress by leaps and bounds. For example, you can deposit your money with the bank and can earn profit on it and also can invest money in stock exchange. Now you have plenty of options with money to boost your business and trade. You can even earn money by sitting at your computer and work online.

Money has made all so convenient for us that now we can easily do shopping, purchase goods for our business and can easily travel long distances.
Muhammad Ali Profile
Muhammad Ali answered
Off course we can discuss the importance of money in present scenario. You must understand that money is a very useful source of exchanging goods on and it is also easy to carry. If you will compare the system of money with the barter system then you would ultimately get the result in the favor of money. It is because in barter system it was very difficult to exchange things as per your desire. And carrying the things with you was also difficult in those days. For example if you suppose that you're living in a barter system. And you need some wheat while the other person need some tool like hammer. You've hammer and the other person does not have wheat but rice. Now you've to take the rice rather than wheat. And this is the greatest draw back of the barter system.

And contrary to this the system of money is not only easy because you can exchange it on the things which you want. But it also has another advantage that money is easy to carry in the shape of currency notes. Just consider the above example, how much it is difficult to move with a 5 kg bag of wheat to exchange it. While it is very easy to exchange the things on the basis of money because keeping money is very easy. I hope now you can understand the importance of the money. So money is very important in our life especially in this modern era.
raaga Profile
raaga answered
Significance and importance of money is not hidden from us. No one can deny its importance in this world.It is true that money is not everything but there are many necessities of life that can not be getting without money. The needs of a human being are physical as well as spiritual. The physical needs are like food, residence, medicine etc. it is difficult even impossible for a man to live without these necessities of life.

Each and every basic physical need of a man requires money to be fulfilled. Besides these a human being also requires some other luxuries of life. But as a man can live without luxuries but not without basic needs. However money plays a big role in the life of man.
But there are generally different classes of people in this world; one class is blessed with all the luxuries of life so, they have no worry about money.This class of people can't define the importance of money.

Only those who have to work hard to earn, can understand the importance of money in their lives. Some people spend their whole lives to earn money just for food, and they even don't have residence in their whole life because they have not sufficient money.
Anonymous Profile
Anonymous answered
Money is very important,just like an eye of a person if we does'nt have an eye we can't see the beautiful world and experience how's the world being round likewise money can brought us to the satisfaction as human being in a new era.in such satisfaction we realy need money for us to live the pleasant and harmonious life.
Anonymous Profile
Anonymous answered
Well significance of money for me is so just simple it is very important to every human we need buy things material things and anything we like it!so we need money thats why we work!to produce money well for me you cannot live without money!
Preston Potnouf Profile
Preston Potnouf answered

It is often said that money is not the most important thing in the world. For many people, however, it is right up there next to air in importance. These are not necessarily overly-materialistic people. Rather, they simply understand the true value of money. Money, in and of itself, is not very spectacular. What money can do for you is what is really important. Money gives you freedom and choices. You can decide where and how you want to live when you have a good income or financial resources. On the other hand, when you do not have much money, choice may be something that you cannot afford. The choices available to you may not really be choices at all.

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Anonymous Profile
Anonymous answered
Well of course we all need it to survive especially now days.
If anyone doesn't have money they will just end up on the footpath.
Anonymous Profile
Anonymous answered
Money play vital role in our life we can not do any thing without money every men do jobs and business for money
Muhammad Abdullah786 Profile
Money has acquired immense significance and importance in a modern economy.
Money in production:Money has made possible to produce large number of goods with different varieties. It helps the procedures to purchase the raw materials, combine different factors of production and make payments to them. Money helps the producers in assessing the cost of production. If facilities borrowing and leading, helps in calculating rates of interest and making an estimate of profit for the producer.

Money and consumption:
Money helps the consumer to get maximum satisfaction from his available resources. if gives the consumer the power to make the purchase of goods. If enable, him to draw up a budget. The consumer, with the help of money, can arrange all his expenditure in such a manner that he gets maximum satisfaction.

Money and trade:
Money has helped in removing all the defects and shortcoming of barter economy. Prices are now freely determined with the help of money. Due to money, there is significant flow of internal and foreign trade in economy.

Money and distribution:
Distribution of income to the different factors of production is made in terms of money. Money has made possible to work out the marginal productivity of each factor of production. The allocation is thus greatly solved through the use of money.

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