Theory:

Summary:
  • The word Money is derived from the Roman word “Moneta Juno”.
  • Barter System - Men exchanged goods for goods without the use of Money.
  • Some of the major stages through which money has evolved are Commodity Money, Metallic Money, Paper Money, Credit Money, Near Money and recent forms of Money.
  • Value of money is meant the purchasing power of money over goods and services in a country.
  • Savings are defined as the part of a consumer’s disposable income which is not used for current consumption, rather kept aside for future use.
  • Black Money is money earned through any illegal activity controlled by country regulations.
 
Glossary:
Coincidence - An accident
 
Demonetization - To officially stop using particular
 
Dual Economy - An economic system that consists of
two very different parts
 
Purchasing Power - The value of money considered as the amount of goods it will buy
 
Unanimity - The state of being unanimous
 
Tax Evasion - Ways of illegally paying less tax
 
Deterioration - The process of becoming progressively worse