IMPORTANCE OF MONEY

in general money is important because gamit kaayu sya saatun pang adlaw² nga kinahanglanon
which is mga needs natun everyday, so without money we cannot buy materials we need to our
house ,mga foods ,or etc. sometimes u need money to get or buy something u want amo inang dele
kita mag minaog saatun kwarta Kay dili sa tanan panahon may kwarta kita so dapat kantigo kita mo
share saatun money to other people para Kong kita naman ang mag need is may aray motabang
saatun or pwede lat natun I invest sa bangko atun Money para in the future if need natun ina sya is
may magamit kita , di kita dapat mag sayang or mag hinangoy satun kwartaaa kay not all the time
ara kitay kwartaaaaa.

Money is one of the greatest inventions of mankind, without money the existence of the modem
economic organization would not have been what it is at present. It is said that "Money is the blood
and soul of men and whosoever has none wanders dead among the living". Besides, many
economists and experts have upheld the significance of money in their definitions. To quote

Mountiford Longfied: "Money, as it is, the most useful means of exchange is also the most useful
and convenient measure of value

Alfred Marshall: "Money is the centre around which economic science clusters"

Karl Marx: He wanted to abolish the very existence of money, for he considered it as a means for the
exploitation of the poor, has stated in his Das Capital, that "Although gold and silver are not by
nature money, money is by nature gold and silver"

Somerset Maugham: a famous playwright goes further to say "Money is like a sixth sense without
which you cannot make a complete use of the other five.

LOW UNCERTAINTY AND HIGH EXCHANGEABILITY

When it comes to money, having low uncertainty and high exchangeability requirements means that
people prefer to use currencies that are stable and widely accepted by others.In other words, if you
have money, you want to be confident that its value won't suddenly decrease, and you also want to
be able to use it to buy a wide variety of goods and services, both domestically and
internationally.This is why many countries peg their currencies to stronger economies or reserve
currencies, like the US dollar or the euro. By doing so, they can help reduce uncertainty and increase
exchangeability, making their currencies more attractive to use and trade with.

ECONOMIC GROWTH When we say economic growth is an increase in the production of economic
goods and services in an economy. This growth can be attributed to various factors, one of which is
money.Money contributes to economic development and growth in several ways. Firstly, an increase
in money supply can stimulate economic growth by encouraging businesses to invest and consumers
to spend, leading to increased demand for goods and services. This increased demand can then lead
to an increase in production and employment, further fueling economic growth.Additionally, money
can also contribute to economic growth by facilitating trade and commerce. With money, it becomes
easier to buy and sell goods and services, leading to a more efficient and productive economy.

STORE OF VALUE

A "store of value" is an asset or commodity that maintains its value over time, meaning it can be
saved, retrieved, and exchanged in the future without losing its purchasing power. Money is a
common example of a store of value because it is easily exchangeable and generally retains its value.

Being a "store of value" means that money maintains its value over time. If you have 100 pesos
today, you should still be able to buy roughly the same amount of goods or services with it in the
future. This is an important characteristic of money because it allows people to save money and
trust that it will have purchasing power when they decide to spend it.

The reason money is a good store of value is because it is durable, predictable, and widely accepted
as a medium of exchange. This means that money can be saved and retrieved at a later time, and it
can be used to purchase goods and services in the future.

However, it's important to note that not all forms of money are equally good stores of value. For
example, if a currency experiences high inflation, its purchasing power may decline, making it a less
reliable store of value. In extreme cases, this can lead to a loss of confidence in the currency and a
shift towards alternative stores of value, such as gold or other commodities.

MEDIUM OF EXCHANGE

Money is a medium of exchange means that , money is a tool that we use to buy and sell goods and
services. It's a medium of exchange, which means it's a standardized way of valuing and trading
items.

For example, let's say you have a chicken that you want to trade for some soap. In a barter system,
you would need to find someone who wants your chicken and has soap to trade with you. But if
you're using money as a medium of exchange, you can sell your chicken to anyone who has money,
and then use that money to buy soap from someone else.

Money makes it easier to trade because it allows us to assign a standard value to things, and it's
more flexible than bartering because we can use it to buy anything we need, not just the things that
other people happen to want.