Money (Paper Currency & coins):

Everyone needs money in this world. Standard of living is collateral to the quantity of money you have in your hand. We need this printed paper not to have our pockets full of paper , but what we do is converting our needs ,desires, dreams and wishes to reality. You all know the importance and power of this piece of paper.

In this article I am going to tell you basic concept and definitions of money. Now we will look at the basis definitions which will clear the concept regarding money. Early scientists gave many definitions, we look at them one by one;

Robertson defined money,” Anything which is accepted in payments for goods and services & in discharge of other kind of obligations”.

In the words of Crowther,” The only essential required is general acceptability, money need not itself be valuable. It must be relativity scarce, but provided precautions are taken to keep it relatively scarce”.

“money is what money does” Walzker.

The definitions provided by Robertson and Crowther are best defining definitions and clear the concept of money that we use in our daily life


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