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PPTs: Money | Mathematics for Class 1 PDF Download

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FAQs on PPTs: Money - Mathematics for Class 1

1. What is the importance of money in daily life?
Ans. Money plays a crucial role in our daily life as it serves as a medium of exchange for goods and services, a unit of account to measure value, and a store of value to save for future use. It allows individuals to satisfy their needs and wants, facilitating trade and economic stability.
2. How do different forms of money function?
Ans. Different forms of money, such as cash, coins, checks, and digital currencies, function as a means to facilitate transactions. Cash and coins are physical forms of money used for everyday purchases, while checks and digital currencies provide a more secure and convenient way to conduct transactions without the need for physical exchange.
3. What are the basic concepts of personal finance related to money?
Ans. Basic concepts of personal finance related to money include budgeting, saving, investing, and managing debt. Budgeting helps in tracking income and expenses, saving ensures that individuals set aside funds for emergencies or goals, investing allows for wealth growth over time, and managing debt is crucial to maintaining financial health.
4. How does inflation affect the value of money?
Ans. Inflation occurs when the general price level of goods and services rises, leading to a decrease in the purchasing power of money. This means that over time, a certain amount of money will buy fewer goods and services than it did in the past, highlighting the importance of investing and saving wisely to combat the effects of inflation.
5. What are the different ways to earn money?
Ans. There are various ways to earn money, including traditional employment, freelancing, starting a business, and investing. Traditional employment provides a steady income, freelancing offers flexibility and the potential for higher earnings, starting a business can lead to significant profits, and investing can generate passive income over time.
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