Class 1 Exam > Class 1 Videos > Mathematics for Class 1 > Concept of Money
Concept of Money Video Lecture | Mathematics for Class 1
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9 videos|80 docs|23 tests
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FAQs on Concept of Money Video Lecture - Mathematics for Class 1
| 1. What is the concept of money? |  |
Ans. The concept of money refers to the medium of exchange that is widely accepted in transactions for goods and services. It is a system of currency used by individuals, businesses, and governments to facilitate economic transactions.
| 2. How does money function as a medium of exchange? | |
Ans. Money functions as a medium of exchange by representing the value of goods and services. It allows individuals to trade their goods and services for money, which can then be used to purchase other goods and services from others.
| 3. What are the different forms of money? | |
Ans. Money can exist in various forms, including physical cash (coins and banknotes), digital currency (electronic payments), and bank deposits. These different forms of money serve the same purpose of facilitating transactions.
| 4. How is the value of money determined? | |
Ans. The value of money is determined by factors such as supply and demand, inflation, interest rates, and the overall economic conditions of a country. Central banks and governments play a significant role in managing and controlling the value of money.
| 5. What are the functions of money? | |
Ans. Money serves three primary functions: a medium of exchange, a unit of account, and a store of value. It allows for the efficient exchange of goods and services, provides a common measure of value, and can be saved or invested for future use.
About this Video
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Oct 23, 2024 Last updated |
Video Description: Concept of Money for Class 1 2024 is part of Mathematics for Class 1 preparation.
The notes and questions for Concept of Money have been prepared according to the Class 1 exam syllabus.
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Introduction of Concept of Money in English is available as part of our Mathematics for Class 1 for Class 1 & Concept of Money in
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Video Lecture & Questions for Concept of Money Video Lecture | Mathematics for Class 1 - Class 1 full syllabus preparation | Free video for Class 1 exam to prepare for Mathematics for Class 1.
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