Money is the basic requirement of the life without which one cannot
imagine a healthy and peaceful life. We need money even buying a little
needle. In the modern time, where growth of civilisation is going very
fast and following western culture, we need more money because of the
increasing prices of everything. Earlier there was a system called
barter system in which one was allowed to exchange things to get goods
however, in the modern one need only money to buy everything.
The importance of money is increasing day by day as the living has
become so costly. The significance of money has increased to a great
extent in the field of production, consumption, exchange, distribution,
public finance and etc. It plays a very crucial role in determining the
input, income, employment, output, general price level of anything, etc.