{"id":4910,"date":"2019-02-15T12:45:14","date_gmt":"2019-02-15T07:15:14","guid":{"rendered":"http:\/\/astan.lk\/al_virtualclassroom\/?p=4910"},"modified":"2019-02-16T12:14:35","modified_gmt":"2019-02-16T06:44:35","slug":"money","status":"publish","type":"post","link":"https:\/\/astan.lk\/al_virtualclassroom\/money\/","title":{"rendered":"Money"},"content":{"rendered":"

Money is anything which is acceptable in common in exchange for goods or services<\/strong><\/p>\n

\u2022 The evaluation of money could be listed out from the time of the barter system to the present day. \u2022 Use of commodities : Stones, Shells, bones of animals, tobacco.<\/p>\n

\u2022 Use of metal contents: Some metal contents such as gold, Sliver were circulated<\/p>\n

\u2022 Use of metallic coins: Face value and the material value indicated on the metallic coins<\/p>\n

\u2022 Use of notes and coins: In order to avoid problems, currency notes and coins were published by the authorized government institution.<\/p>\n

Example:-<\/p>\n

Sri Lanka – Rupee, Cent<\/p>\n

United kingdom – Sterling pounds, Penny<\/p>\n

United states of America – Dollar, Cent<\/p>\n

Countries of the European Community – Euro, Cent
\n\u2022 Use of Bank money<\/p>\n

Cheques being used through current accounts<\/p>\n

\u2022 Uses of electronic<\/a> money<\/p>\n

There is electronic<\/a> money, special cards were introduced through the development of information and digital technology.<\/p>\n

Eg. Credit card, Debit card, Prepaid card
\nCharacteristics of good money stated as follows<\/strong><\/p>\n

\u2022 Acceptability – People should accept commonly<\/p>\n

\u2022 Durability – Money needs to be long – lasting<\/p>\n

\u2022 Scarcity – The commodity used must have a stable value and be scarce in nature<\/a><\/p>\n

\u2022 Portability – Money should be easy to handle.<\/p>\n

\u2022 Money should be easy to recognize
\n\u2022 Divisibility – The money used has to be capable of being divided into units
\nThe money used at present can be categorized as follows<\/strong><\/p>\n

\u2022 Currency – Notes and coins issued by an authorized body is called currency. This has to be accepted legally..<\/p>\n

\u2022 Bank money:
\nThis refers to the amount of money which represents the demand deposits or the current
\naccount balances maintained at commercial banks. These balances at banks are being
\nused to issue cheques. This has less liquidity when compared to currency but high
\nliquidity than near money.
\n\u2022 Near Money :
\nThough these are lower in liquidity than currency, it is easily and quickly convertible
\ninto cash
\nExample:
\nSavings and fixed deposits in commercial banks, commercial papers, treasury bills
\n\u2022 Electronic<\/a> Money (E-Money):
\nA type of money being invented as a result of information technology and digital
\ntechnology which is used nationally and internationally.
\nExample:
\n\u2022 Debit Card :
\nA Bank account is necessary to obtain a debit card and debit card transactions are
\ncarried out automatically through an electronic<\/a> network.
\n\u2022 Credit card :
\nA Bank account is not necessary to obtain a credit card, Goods and services can be
\nbought up to a certain value using a credit card.
\n\u2022 Prepaid card :
\nThis card could be obtained by paying money in advance.
\nThe following are some facilities when using these cards while settling payments<\/strong>
\n\u2022 ATM – Automated Teller Machines
\n\u2022 EFTPOS – Electronic Funds Transfer Point of Sales
\n\u2022 Tele banking – Tele banking facilities
\n\u2022 On line banking – Internet Banking Services<\/p>\n","protected":false},"excerpt":{"rendered":"

Money is anything which is acceptable in common in exchange for goods or services \u2022 The evaluation of money could be listed out from the time of the barter system to the present day. \u2022 Use of commodities : Stones, Shells, bones of animals, tobacco. \u2022 Use of metal contents: Some metal contents such as […]<\/p>\n","protected":false},"author":842,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[10,2391],"tags":[],"class_list":["post-4910","post","type-post","status-publish","format-standard","hentry","category-business-studies","category-unit-7"],"acf":[],"yoast_head":"\nMoney - Learning & Education Portal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/astan.lk\/al_virtualclassroom\/money\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Money - Learning & Education Portal\" \/>\n<meta property=\"og:description\" content=\"Money is anything which is acceptable in common in exchange for goods or services \u2022 The evaluation of money could be listed out from the time of the barter system to the present day. \u2022 Use of commodities : Stones, Shells, bones of animals, tobacco. \u2022 Use of metal contents: Some metal contents such as […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/astan.lk\/al_virtualclassroom\/money\/\" \/>\n<meta property=\"og:site_name\" content=\"Learning & Education Portal\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-15T07:15:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-02-16T06:44:35+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/cdncache-a.akamaihd.net\/items\/it\/img\/arrow-10x10.png\" \/>\n<meta name=\"author\" content=\"Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/money\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/money\/\"},\"author\":{\"name\":\"Admin\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/person\/ffb0504e2cfb71518790b2fffd668c59\"},\"headline\":\"Money\",\"datePublished\":\"2019-02-15T07:15:14+00:00\",\"dateModified\":\"2019-02-16T06:44:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/money\/\"},\"wordCount\":455,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#organization\"},\"image\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/money\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/cdncache-a.akamaihd.net\/items\/it\/img\/arrow-10x10.png\",\"articleSection\":[\"Business Studies\",\"Unit 7\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/astan.lk\/al_virtualclassroom\/money\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/money\/\",\"url\":\"https:\/\/astan.lk\/al_virtualclassroom\/money\/\",\"name\":\"Money - 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