Money मुद्रा मुद्रा के प्रकार विभिन्न प्रकार की मुद्रा पैसा पैसे

Money मुद्रा मुद्रा के प्रकार विभिन्न प्रकार की मुद्रा पैसा पैसे

  

Money – a word which has a wide area or a deep meaning. It’s not only to help full to make such a trade or exchange but it’s also helpful to accumulate & also have a value or unit of accounting. There are no set patterns to define the money because its cover a wide area & also have a lot of use like – units of accounting, mode of payment or accumulation of value.

In simple words, we can say that money is a unit of accounting or having a valuation or off payment or medium of exchange which is generally accepted by the public. Money is also defines by its function like money is what types of activity money done. Anything which is used for payment or exchange or value of accumulation is called the money.

Types of money – we have three different modes which are used for as money like – metallic, paper money & acceptable money: -

Metallic Money – there are lot of metals which is also used for exchange or use as money because they have a unique value as well as like to money like – gold or silver or copper etc. we have three different parts in it like - 

Metallic Money 

  

ü  Standard Money – if a coin has the same value in the form of money or same in the form of metals.

ü  Token Money – if a coin has the more face value against in the form of metals.

ü  Subsidiary – all the coin which provide help to Token money and also support the mode of payment.

Paper Money – all those money which is made by the paper and issued by the central bank or the Central Government - 

Paper Money

    

ü  Representative Paper Money – money which is issued against the full value-coin or gold or bullion stock.

ü  Convertible Paper Money – money which have not supported by the gold or bullion stock but this paper money will be exchangeable in gold or bullion on demand of paper money holder.

ü  Inconvertible Paper Money – that paper money which is not supported by the gold or bullion and also not able to exchange with gold or bullion.

ü  Fiat Money – money which is issued by the Government order.

Acceptable Money – money which is accepted by all the different parties. We divided it in two forms like – legal Money or Non-Legal Money-

ü  Legal Tender Money – money which is accepted by the public or government and also used for exchange or payment. In Limited Legal Tender Money, we only make a limited payment like not more than Rs 25 in the form of .25p to 1 rupee coin. In Unlimited Legal Tender Money, there is no limit for paper note or such coins like 1, 2, 5, 10.

ü   Non-legal Money – money which is not supported by the law or Central Bank or Central Government.

                                                                                                                          

Invest Investment निवेश निवेश करना विभिन्न प्रकार के निवेश

Investment

Investment – it is a word which covers a wide area or has a very deep meaning. It is not only related with bond or shares or SIP or any things but also related with making some things new. Shares or bond are only a shift of assets from one person to another. But this is not a real investment. 

Real investment is an investment which is related with making some things new or increase in our current capital goods or assets. It totally related with increase in the capital like for example – making new house or factory or plant etc. New dam or road or company issue or increase in inventory also include in the investment.

Different types of investment –

Induced investment- this types of investment totally motivated by the profit or income. But it is also affected by price, salary, interest rates or demand. When there is a increase in income – there is a increase in demand then there is a motivated or induced investment. 

Induced investment

It has a positive co-relation with income I = f(y) where I – investment or y – income. If income increases from y – y1 then we have a investment level of ‘A’ or next when there is a increase in the income from y1 – y2 then we have a investment of ‘B’. We have an extra investment like ‘B – C’.

Autonomous investment – this types of investment related with innovation or population or R&D or social change or from a new low or any war etc. for example – building, school, dam, canal or hospital etc. in a long run all our investment become a autonomous investment.

Autonomous investment

Private investment– an investment which is done by a private person like TATA or Reliance or Birla or any other person. This type of investment affected by rate of interest or Marginal productivity of Capital.

Public investment – an investment which is done by the Government like building, school, hospital, roads, telephone or other public interested investment.

Intended or unintended investment – when there is a planned investment for any particular site that is an Intended investment. When there is a change in demand and then we have some increase in inventory then we have an Unintended investment.

Importance of Saving बचत का महत्व

Importance of Saving

ü  Saving is a precaution for future requirement or need like any accident, illness or any other emergency.

ü  To increase their living-standard

ü  Farsightedness for future

ü  Increase their future income by investment

ü  Saving for family members

ü  To become a Enterprises

ü  To stand independently in the society

ü  To increase their social status

 

Importance of Saving  

There are lots of things which give us a power or boost us to save like –

ü  If we have a high level of National Income, it shows a positive sign for more saving due to high level of personal income.

ü  Internal or external trades also show a positive for personal income & saving prospectus.

ü  If any countries have a high level of Natural Resources then it’s able to increase the national income or then its increase the saving.

ü  Our industrial growth or development also represents the level of income & saving. If there is a high level of industrial growth or development then there is a high level of national income or personal income.

ü  If any countries have a high level of trained or good quality labor then they are able to receive the high level of income & high possibility to save.

ü  If any countries have a high level of Agricultural production & development then there is a possibility for high level of income and saving.

A facilities and secure environment always lead to save, if any country have these types of environment then the people of that country have more motivated for saving –

ü  If there is a high level of banking facilities and safety of assets is available then there is a high level of saving.

ü  Good Tax policy is always motivated for saving.

ü  If countries have peace & secure environment then these things always motivate for more saving.

ü  If any countries have a high level of opportunity for investment then than these things increase the jobs level, these things lead to a high level of income & saving.

                                                          

Save Saving बचत बचत करना बचत का महत्व

Save or Saving

Saving is a word which is related with income and investment point. Saving is the total amount which left from our salary after consumption. Every one aware about the function of saving and its important. We save a part of our salary for our future requirement & uncertainty. Saving is totally related with our income level and with high income we are able to save more amounts. We also represent saving like S = Y – C. S for saving or Y for income or C for consumption.

Save  - बचत  

If we have zero income, in that situation, we also buy and carry our basic needs. But after some time when we have income then we start increasing our consumption and buy more things. In these situations, we have no saving. But after some time, when we have continued increasing our income, then we are able to save some amount after consumption. These savings helpful for future requirements and uncertainty. Saving also related with our investment point, if we have more saving then we are able to invest more amount in infra, capital goods or other things which is important for our future.

But saving and consumption have a relationship like if we start save more & more amount then we a lot of extra production and our future investment become unprofitable and people starts to come out from production and its start a shut-down then we have a lack of jobs and this situation decrease our income or increase in unemployment. So, income or consumption or saving have a close relationship with each other and it’s become a economic cycle. 

foreign market foreign relation foreign trade foreign

Open market foreign market foreign relation foreign trade foreign

It is a basic concept about income that money always is in a rotation from one person to another in the form of income & expenditure. There is lot of activity like saving, tax, government exp, investment and import or export, if we add these figure then we are able to find out our National Income. This is a close market because all the thing or business happens in a country between different – 2 sector like House-hold, Business sector, Government, Capital market or Bank etc. In current time frame, all the market in the world is open for trade and our different - 2 sectors make a trade with out-side according to the requirement. 

Foreign Relationship – in current situation, all economic are open for trade and make a business with each other because no one market is complete in all aspects so that to complete our basic need, they go for the foreign trade or foreign business or international trade. For example –

 foreign market foreign relation foreign trade

ü  House-hold demand lot of thing & buy some things from foreign market,

ü  A business men also do business with foreign company & also support each other,

ü  Capital market also opens their branch in different country & also makes an easy trade. They also help in foreign payment & money transfer.

ü  Government also make a relationship with other country like food supply, technology improvement, R&D, space and any natural disaster or other types of help.

So, we can say that in current time frame, Every economic have the capability and capacity to produce the different things but no economic will be able to produce all the things so it’s become necessity to go for a international trade or foreign trade. 

Government participate in Circulation of Money Government involvement

Government participate in Circulation of Money

It is a basic concept about income that money always is in a rotation from one person to another in the form of income & expenditure. There is lot of activity like saving, tax, government exp, investment and import or export, if we add these figure then we are able to find out our National Income from different – 2 method like – income method or expenditure method and we know that our national income is always be equal to national expenditure

Government involvement –

In these types of economic, we divide the economic in four sectors like House-hold, Business, Capital Market (Saving or Investment) and Government:- 

Government participate in Circulation of Money

House-hold –

This side of the economic holds the entire production factor like land, capital or man power etc. House hold sales there services in production process and earn income in terms of rent on land, interest on capital and wages or salaries on manpower etc. Before any consumption, house-hold must pay Government Tax and Government Returns this amount in terms of social welfare like school, pension, hospital and police etc. Then start saving and we make a new involvement in flow of money like Bank (Capital Market). House-hold always prefers to save a part of his total income for future and rest is spending on consumption.

Business –

These sectors have the idea and produce the goods & services and sale these production to the house hold and earn money. On this income, business man must pay Government tax and Government buy many product from the market, also Government spend money on infra project to support the industry.

So, we can say that Government involvement in the Circulation Flow of Money or in the market is really important and it is the Government responsibility to implement the welfare scheme for society and make such policies which support the industry & its growth.

Saving Investment in Circulation of Money

Saving & Investment in Circulation of Money

It is a basic concept about income that money always is in a rotation from one person to another in the form of income & expenditure. There is lot of activity like saving, tax, government exp, investment and import or export, if we add these figure then we are able to find out our National Income from different – 2 method like – income method or expenditure method and we know that our national income is always be equal to national expenditure. 

Saving & Investment in Circulation of Money –

In these types of economic, we divide the economic in three sector like House-hold, Business and Capital Market (Saving or Investment) :-

Saving Investment in Circulation of Money

House-hold –

This side of the economic holds the entire production factor like land, capital or man power etc. House hold sales these production factors in production process and earn income in terms of rent on land, interest on capital and wages or salaries on manpower etc. Also, this sector start saving and we make a new involvement in flow of money like Bank (Capital Market). House-hold always prefers to save a part of his total income for future and rest is spending on consumption.

Business –

These sectors have the idea and produce the goods & services and sale these production to the house hold and earn money. We can say that the house-hold is the entire market for business sector. They buy the entire production factor from house hold and pay them (rent, interest, wages or salaries) for this. A business man also starts saving for future investment and also for R&D. A business man also uses capital market for saving & investment point.

Flow of Money Income & its Circular Flow Money flow circular flow of money

Income & its Circular Flow

It is a basic concept about income that money always is in a rotation from one person to another in the form of income & expenditure. There is lot of activity like saving, tax, government exp, investment and import or export, if we add these figure then we are able to find out our National Income from different – 2 method like – income method or expenditure method and we know that our national income is always be equal to national expenditure. 

                                                                                                     

Income flow between business & house hold sector –

We start it from a basic concept that our economic start from two sides – one is house hold and second is business.

Flow of Money

First side, house hold – This side of the economic hold all the production factor like land, capital or man power etc. house hold use these production factor in production process and get rent on land, interest on capital and wages or salaries on manpower etc. so these sector sale their services and earn income. This side has the consumption and buys all the goods & services which are produces.

Second side, business sector – These sectors have the idea and produce the goods & services and sale these production to the house hold and earn money. Or other way, we can say that the house-hold is the entire market for business sector. They buy the entire production factor from house hold and pay them (rent, interest, wages or salaries) for this. So, there is a continue flow of money from one another at every time.

Assumption –

ü  House-hold spent all his income on goods & services

ü  Total production is always be equal to total sale or consumption

ü  There is no saving by business sector

National Income and Economic Welfare Social Welfare

National Income and Economic Welfare

National Income has a close relationship with economic welfare and also has a positive co-relationship with each other. Economic welfare is relay have an important concept for every economic and also for social welfare. Economic welfare totally depends on the growth of National Income and its distribution. Economic welfare means prosperity level & living standard of an individual or a group of peoples in the society.

So we have two concepts about economic welfare –

ü  Change in the size of National Income

ü  Change in the distribution of National Income

National Income and Economic Welfare

Change in the size of National Income – the size of the national income has a positive relationship with economic welfare. If our national income increased then the people spend more money for goods & services. Its increase our economic welfare. If there is a negative or decrease in the size of national income then people decrease their expenditure on goods & services.

Economic welfare also depend on the real increase in our national income, it is not just due to a price high in current price index. If there is an increase in the income of rich people and no increase in the income of poor people then it is not a economic welfare.

Change in the distribution of National Income – distribution of our national income is also an important point. If there is a shift of money for rich people to poor people then we say that it is a concept which increases our economic welfare or equal distribution of National Income.

If there is shift of money from poor people to rich people or if we make such policy which supports the rich people then we can say that it is not a good one or positive for economic welfare. Policy like increase in working hour, give less than the minimum wages, lack in the facility in factory area or slum area etc, these things are against for the concept of economic welfare.

Also, if there is an increase in the national income then we assume that there is an increase in the personal income but if our population increase on the same rate, in this situation, there is no economic welfare. Also personal income does not have a positive relationship with economic welfare. 

Limitation or Difficulties of National Income Limitation Difficulties National Income

Limitation or Difficulties of National Income

There are lots of limitations while we measure the National Income. There are multiples way to calculate the national income and every theory has their own limitation. We face the problem due to their assumption and complex static.

Limitation or Difficulties of National Income 

Limitation of Product Method –

ü  Housewives Services – in national income, we not include the housewives services but we include the payment for servant.

ü  Middle or final goods – it is very difficult to calculate the difference between a intermediate or final goods. If we not able to clarify the difference, the possibility of doubling is increased.

ü  Illegal activities – these types of illegal activities are not to be calculated while we measuring the National Income.

ü  Consumer Services – there are lot of services which satisfied the human need like film, dance, teacher, doctor or barber but it is very difficult to calculate their income.

ü  Capital gains also not add in National income.

ü  Second hand materials (assets or goods) are also not calculated.

ü  Change in stock materials or inventory is included in NI but we not add the total materials change.

ü  Always to use a base year price index because current price change during the time so that it is not give a real picture.

Limitation of Expenditure Method –

ü  It is very difficult to calculate Government Services like police, military, admin or court etc. it is not very sure about these services that they are middle or final services.

ü  Use of durable consumer goods like car, TV, furniture etc

ü  There is lots of public expenditure like police, park, lighting, museum, water supply or river but it is very difficult to identify that these are investment or consumption. 

ü  Different types of payment or transfer like pension, unemployment or interest on loan etc.

Limitation of Income Method –

ü  Owned or rented house – a rent received always be a part of National Income but if a owner live in self occupied house how will be the calculation.

ü  Payment of wages or a part of salary in different kind like free food or house or cloths or other thing, but their calculation is very difficult.

ü  It is very difficult to calculate the income of a self employment person.

ü  There are lot of goods and services which a farmer or producer retain for self use, so calculation of these type of thing is very difficult.

Income different Income types of Income aay aay ke prkar

Income different Income types of Income aay

Private Income –

An income which is received by the private or personal people from different – 2 income sources or as a production factors. In this income, there is no involvement of government side or an income which is received from government services. So, we must add or subtracted some of item from GNP. Add these types of item like – pension, unemployment, health scheme, normal profit and abnormal profit or income from abroad etc. subtract item – income from government, other surplus, pension scheme or life insurance etc.

Private Income – NNP at factor cost or National Income + transfer payment + interest on public debt – profit of public sector – payment for social security.

Income

Personal Income –

A total income which is received by the public from different – 2 resources before paying any tax. There are lots of differences in national income or personal income. We must add lot of transfer or payment of amount in personal income.

Personal Income – national income + transfer payment + interest on public debt – tax on profit – payment for social security – undistributed profit of corporate.

Disposable Income –

An income which is left for expenditure or consumption after giving all tax. 

Disposable Income – personal income – direct tax.

Real Income –

When we calculate the national income on the base of any year like 1981 or 1991 or 2000-01 or 2011 etc. when we calculate the national income with this method, we are able to get a real picture of national income and growth. But when we calculate the income on current year price index then we add inflation & also these data not represent a real picture.