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10 Lines on Money in English | 5 Lines on Money in English | Few Important Lines on Money in English

 

10 Lines on Money in English | 5 Lines on Money in English | Few Important Lines on Money in English
10 Lines on Money in English | 5 Lines on Money in English | Few Important Lines on Money in English


Do you want to read 10 Lines on Money in English for kids and children? Then You are at the right place. Here you will read 10 Lines on Money in English and also 5 lines on Money in English language. If you have been given an assignment from school to write 10 lines on Money in english or 5 lines on Money in english then you can refer to the points given in the below article.

We have also created many such 10 Lines articles on our website for easy access to students of all classes.


10 Lines on Money in English Details

Material

10 Lines on Money /5 Lines on Money

Language

English

For

Students of any Class 1-12

Format

Text

Provider

Sheni Blog


10 Lines on Money in English

Students who are looking for 10 lines on Money in english then you can refer to the 10 lines written about Money below:

1) Money is a kind of legal tender, which means a medium of exchange which is recognised by the government; generally notes and coins are legal tenders.

2) It is accepted for payment of goods and services as well as for repayment of debts.

3) It is also used as a measurement of value of any commodity, it tells about the market value of any item produced. Ex- cost of one unit of pen is Rs 5. (That is, the market value or the worth of a pen is Rs 5)

4) It is used as a standard of deferred payments i.e. to pay the loans and debts which were previously borrowed.

5) To act as a store of value, which means money is an asset which should be stored, saved and exchanged at some time and become useful when timely received.

6) Money must be durable which means that it must be produced for repeated use.

7) It must be portable i.e. it must be easily carried and transported.

8) Money must be “cognizable” i.e. its value must be identified very easily. Ex- a note of Rs 20, a 10-rupee coin etc.

9) Money is a kind of liquid asset which is easily exchanged as well as universally recognized and taken as a legal tender.

10) Before introduction of money, there was a system called “Barter System” in which any item was exchanged with another item which was very much needed.



5 Lines on Money in English

Students who are looking for 5 lines on Money in english then you can refer to the 5 lines written about Money below:

1) Money in India is printed and circulated by RBI (Reserve Bank of India), a central banking institution which declares currency note as legal tender.

2) In 1944 the “Bretton Woods System” conference was held in America, where countries unanimously declared US dollar as universal medium of exchange.

3) “Commodity Money” is money, whose value comes from the commodity it is made of. Ex- gold, silver, livestock etc.

4) “Representative Money” is a type of money which has a face value greater than its materialistic value. For Ex- gold certificates, silver certificates etc.

5) “Fiat Money” is a type of money which has the value only through legal declaration and has mo materialistic worth. Ex- legal tenders declared by the government.



Few Important Lines on Money in English

Also, these are few important lines on Money in English if any students require them.

6) “Paper Money” is a kind of money which is printed, approved, regulated and circulated by the central bank of a country. It is approved as legal tender by the government.

7) “Digital or Electronic Money” is a new concept where money is transferred electronically. Ex- bank’s websites and apps such as Paytm, PhonePe etc.

8) In 2016, to bring black money back to Indian economy, demonetisation of Rs 500 and Rs 1000 currency notes was affected by the Government of India.

9) Black Money is earned illegally by people who are rich or higher government officials through corruption.

10) “Plastic Money” or ATM cards are small cards through which money is withdrawn from ATMs (automated teller machine). Ex- Visa, Master Card, Rupay, etc.



How to Find 10 Lines on Money in English or 5 Lines on Money in English?

  1. Visit our website Sheni Blog.
  2. Now search for the main 10 Lines articles.
  3. Once on the main page search for the particular topic i.e Money.
  4. Click on the 10 Lines on Money in English page for complete assignment.

Conclusion on 10 Lines on Money in English

Hope you liked our post on 10 lines on Money in english. If so, Don’t forget to share it with your fellow classmates. Thank you so much for using this website. If you have any suggestions regarding the content published on this page. Don’t bother to let me know in the comments.


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Students on any class can get 5 lines on Money in english on this page above.
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