MONEY💰

Money serves as a medium of exchange in the modern world. This is perhaps the most important feature of Money. People who have money can use it to buy goods and services without it, trade will be carried out on the basis of Barter system where goods or services are exchanged as was the practice in the years gone by. This mode of trading has a number of disadvantages as people will have to match their needs with those of other people.for example,if a hunter wants to trade his kill for yam,he must find a farmer who need what he is trading. Another difficulty is determining the quantity of each item needed in the exchange. Therefore,this mode of trading is no longer commonly practiced.

Nowadays, people pay money for goods and services rendered both locally and internationally. International trade boosts the economy of a nation. The currency frequently used in international trade in the U.S dollars