Lecture Notes

Introduction

• Channel Name: Jair Tutorials
• Instructor: Gaurav Munra
• Subject: SPU, SEM and Economics

Start of Lesson 2

• Completion of Lesson 1 was successful.
• Lesson 2 involves the concept of "Money".
• Aspiration to earn money:
  • Desire to lead a successful life.

History of Money

• Invention of money and ancestors' role.
• Question: What is "Barter System"?
  • Exchange of goods.

Problems with Barter System

1. Double Coincidence of Wants:
   • Needing one item for another.
2. Lack of Common Value:
   • Difficult to compare items.
3. Difficulties in Storage:
   • Storing perishable items (like fruits, milk).
4. Delayed Payments:
   • Issues with future payments.

Types of Money

• Types of Money:
  1. Animal Money:
     • Use of animals.
  2. Commodity Money:
     • Exchange of goods.
  3. Metal Money:
     • Metal coins.
  4. Paper Money:
     • Use of notes.
  5. Bank Money:
     • Money from bank accounts.
  6. Plastic Money:
     • Credit cards.
  7. Electronic Money:
     • Digital payments.

Features of Money

1. Universal Acceptability:
   • Accepted everywhere in the country.
2. Divisibility:
   • Usability for small transactions.
3. Durability:
   • Quality of lasting long.
4. Recognition:
   • Easily recognizable.
5. Portability:
   • Easy to carry.
6. Uniformity:
   • All notes being identical.
7. Stability:
   • Stability in price.

Conclusion

• Importance of the concept of money.
• Other important concepts in upcoming lessons.

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Note: If there are any questions during the lesson, ask in the comments.