it makes the world go round. it is just paper and pieces of metal. what is the real value of money (if any) and how to calculate it?
2006-12-01 17:32:52 · 7 answers · asked by unknown u 3 in Science & Mathematics ➔ Mathematics
Money actually has no value. Unless you're in a situation where you need to sew it together for clothes or use coins to weigh something down or need something to write on. In that situation, a $1 bill has just as much value as a $50 bill.
The only value money has is what we give it. The only difference between a scrap of cotton and a $100 bill is that my society has agreed that I can trade the $100 bill for goods. I could create a society that has a monetary system based on pebbles, and suddenly every pebble on the ground will become valuable.
2006-12-01 17:41:59 · answer #1 · answered by Anonymous · 1⤊ 0⤋
To the most extend, it's numbers in a computer. If you own $100,000, you probably don't have it in notes and coins.
Money is a concept to simplify trading, instead of exchanging butter for sugar. The real value of money is the purchasing power it bring about. That differs greatly from country to country.
2006-12-01 17:47:45 · answer #2 · answered by Ivan 5 · 0⤊ 0⤋
One of the best answers to this question I have heard is money is tangible time.
Money gives us the ability to spend time doing something other than meeting the absolute necessities of life, like foraging for food and shelter. With money, we buy food so we don't have to grow it / make it ourselves. We buy / rent shelters so we don't have to build them ourselves. It frees up time for other things that are not necessary in life... like answering Yahoo questions. :)
2006-12-01 17:51:57 · answer #3 · answered by Anonymous · 0⤊ 0⤋
that's what i've been wondering. like a bill, its just paper, we can rip paper, but if you take a hundred dollar and look at it, you wouldnt be able to rip it.
and how to calculate it:
umm food+need+work+whatever+school+banks=i dont know
haha
2006-12-01 18:07:49 · answer #4 · answered by Meow~ 4 · 0⤊ 0⤋
Money is several things:
1. store of value
2. medium of exchange
3. i forgot!
Money is worth what you can trade it for. When governments print lots of money it's value decreases meaning that you get less for it.
Inflation is the tax that you don't get to vote on.
2006-12-01 17:37:56 · answer #5 · answered by modulo_function 7 · 1⤊ 0⤋
It sure beats the $#@% out of being poor !
2006-12-01 17:40:56 · answer #6 · answered by S.A.M. Gunner 7212 6 · 0⤊ 0⤋
money has no worth but what you place on it.same with diamonds,gold ,silver all worthless.
2006-12-01 17:41:25 · answer #7 · answered by Anonymous · 1⤊ 0⤋