Money
Introduction
Money is a variable record that is generally accepted as a payment for goods and services and repayment of debts in a particular country or socio-economic context. The primary function of money includes the medium of exchange, a unit of account, a store of value, and sometimes, a standard of deferred payment. As a medium of exchange, money facilitates trade because people in the economy generally recognize it as valuable and are willing to trade money for goods and services with intentions of one day using money they received as a seller to buy products or services from someone else. The funds will cease to become a medium of exchange if people stop recognizing it as valuable. Money facilitates the division of labor in that the primary process of production is split up into many simple parts, and different workers take each role. They are specialized in the production part—different workers perform various components of production based on specialization. The result is that goods come to the final shape with the cooperation of many workers. In specialty, when there is more specialization of labor in an economy, two things occur. First, the economy becomes more developed because of higher productivity or output per worker. This raises incomes and permits more items to be consumed. In the industrial revolution, substantial resources are required for simultaneous investment in different sectors like technical innovation itself, and massive investment is also found at other stages of development. Still, its burden is quite exceptional during the crucial stages of industrialization. Before the rise of liberalism,much of the wealth generated by a worker was taxed