Description: Money allows people to trade goods and services instead of bartering.

Real World Example: Paying $5 for a sandwich.

Pros: Easy to use, widely accepted.

Cons: Loses value if inflation rises.

Description: Money keeps its value over time so people can save and spend later.

Real World Example: Putting $100 in a savings account.

Pros: Encourages saving, useful for future purchases.

Cons: Inflation can reduce value.

Description: Money measures the value of goods and services.

Real World Example: A car costs $20,000 while a bike costs $200.

Pros: Makes comparing prices easy.

Cons: Value can change with inflation or exchange rates.

Description: Pay based on the number of hours worked.

Pros: Extra pay for overtime, flexible.

Cons: Hours may not be steady, income varies.

Description: Fixed pay over a year, usually divided into pay periods.

Pros: Steady, predictable income.

Cons: Often no overtime pay

Description: Extra money earned from customers for good service.

Pros: Can increase earnings.

Cons: Unpredictable, depends on generosity.

Description: Self-employed worker who gets paid per project or contract.

Pros: Flexible schedule, control over work.

Cons: No benefits, must pay own taxes.

Description: Payment to shareholders from a company’s profits.

Pros: Passive income, potential for growth.

Cons: Not guaranteed, depends on company success.

Description: Profit from selling an asset for more than you paid.

Pros: Can lead to big earnings.

Cons: Risky value may go down.

Description: Digital money used online, like Bitcoin.

Pros: High growth potential, decentralized.

Cons: Very risky, value changes fast.