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The role of money in an economy is very critical as money serves as the backbone of the economy. The economy is actually measured using the monetary value of a nation's currency and money is the main medium of exchange in all type of trade.
Wiki User
∙ 9y ago
Wiki User
∙ 9y agoFinance is critical to the economy in that money is needed for business to function in society. For example, a person deposits money into a financial institution, which then lends money out to a small business. That small business sells a product that is needed by the person, so they buy it and the business pays back the loan given from the financial institution.
Wiki User
∙ 9y agoOne role of money in our society and economy is that it gives consumers a way to purchase goods and services. Without money, consumers would have to rely on the barter system.
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It brings about economic improvement
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what was the role of the factor in the southern economy
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The answer of your question is very easy. But to know that you have gather a few knowledge about the fundamental of economics. To learn more about the economics , finance you can go global finance school. It is good school based on economy and finance.
The role of banks in the Nigerian's economy?
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It brings about economic improvement
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How did the Reconstruction Finance Corporation (RFC) help jump-start the economy?
The Changing Role of Government and Public finance?
how can effect the changing role of the government to public finance
How did the Reconstruction Finance Corporation (RFC) jump-start the economy?
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How did the reconstruction finance corporation help jump start the economy?
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How did the Reconstruction Finance Corporation RFC help jump-start the economy?
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What was the role of the factor in the southern economy?
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Why is financial institution considered as the life of your economy?
because with out the power of finance we can't run the business or shall we say economy can't run with out money with out finance.
Role in finance manager managing in effective financial management in export oriented company?
what is the Role of Compay Finance Manager?
