The Importance and Prevelence of Money in Today's Society
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The basic needs of human are simple: food, water, air and shelter. These are the requirements for human to survive, but human wants are unlimited. They always want more, even they already had enough. They have what they need but lack of what they want in life. Food has to be delicious, water has to be cleaned and shelter not only has to be secured but has to be big and comfortable also.
It is not the question of how to survive anymore, but the problems of gaining satisfaction and enjoyment. In society, people cannot just take what they want, they have to earn it first. That is why human created money, so that they can use money to exchange and buy what they People know money can be used for purchasing item that they like, but not all know the full function of money. Money is defined as a circulating medium of exchange. It is used as a medium of exchange, standard of value, standard of deferred payments, and reserve value (Economics, 2010). It functions as a medium of exchange because it is used to exchange to acquire a good or service. It functions as a standard of value because it sets price for everything in a standard measure. It functions as a standard of deferred payments because it can be used in the present time and also in the future. It is used as a reserve value because it allows some of the goods in the market to be kept and still maintain their value. In sort, money is not only for spending, people should use it wisely. Misuse of money would turn in to be a