Money is any object that is accepted as a medium of exchange by everyone. It is widely accepted as a method of purchasing products and services as well as repaying debts. It enables people to obtain anything they require for a living. In economics, the concept of money is seen as a critical component for an economy's correct functioning. It has evolved into the world's most important medium of exchange. It has a monetary worth, and people utilise it to purchase the items they desire. A bank is a type of financial institution that allows customers to deposit money and borrow money. Its purpose is to assist borrowers with financial needs and to facilitate cash transactions. Similarly, banking is a business that provides credit, manages deposits, and assists borrowers financially. It is a network that facilitates the flow of money in the economy in a broader sense. Banks also assist businesses in obtaining sufficient capital to fund their activities. The two most important components that drive the economy are money and banking. People use money to conduct transactions, and banks play an important role in circulating the money supply in the market. Learn of the various definitions of money, its purpose and more in this interesting presentation. Download and read to know about the funciton of money in our society and more.

Jincy Anna Joy

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