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What is Money?
Money is an economic unit that functions as a generally recognized medium of exchange for transactional purposes in an economy. ... Money originates in the form of a commodity, having a physical property to be adopted by market participants as a medium of exchange.
Importance of Money
Money is an essential commodity that helps you run your life. Exchanging goods for goods is an older practice and without any money, you cannot buy anything you wish. Money has gained its value because people are trying to save wealth for their future needs.
Why Do We Need To Pay tax?
When you work at a job to make money, you pay income taxes. ... Tax money helps to ensure the roads you travel on are safe and well-maintained. Taxes fund public libraries and parks. Taxes are also used to fund many types of government programs that help the poor and less fortunate, as well as many schools!