Join Our WhatsApp Channel for Exam Updates | Click here to Register for Olympiad Exams | Check Exam Dates here | See Marking Scheme here | Frequently Asked Questions (FAQs)
Unicus Olympiad Exams

How is Money Used as a Medium of Exchange?

  • Money is like a special tool that helps us buy and sell things.
  • When we want something, like a toy or some food, we give money to the person selling it.
  • This way, we don't have to trade things like apples for toys, which can be confusing!
Examples:
  • Buying sweets:
    • If you want to buy sweets at a shop, you give the shopkeeper some money.
    • In return, you get the sweets you wanted!

  • Getting a book:
    • When you go to the bookstore and see a book you like, you pay with money.
    • The book becomes yours because you've used money to buy it!

  • Buying a toy:
    • If you see a toy you like in a toy shop, you give money to the cashier.
    • After paying, you can take the toy home and play with it!

More Links

70%