Introduction to Money!

 

Hello kids! Welcome once again to the one and only KidsCast! Today, we're here with a super interesting topic! What is Money? Have you ever wondered? Well, today, we will know about money, how it works, and how is it used! So let us begin!

What is Money? 

We often see these green or different colour paper slips, which people call bills or notes, and round metal coins. But do we know what they really are? Correct! This is money. And why do people have it? To buy things! Now, what do you mean by 'buying'? Let's know.

Buying means to pay or to give money to someone, to get something in return. For example, to buy a toy or chocolate from a shop, you will give money to the shopkeeper, and get the toy or chocolate you want to buy. Similarly, to buy a pizza, you will give money to the pizza shop, and you will get a pizza in return. Yummy, isn't it? 

So, now we can say that Money is the means to buy things. That means, by giving money to a shop or someone else, you can buy what you want to get. Money can be anything like a value, bills or notes, coins or even numbers in your bank account, on your mobile or laptop screen. So, money is the means to get things by giving money to the seller, or who is selling what you want. 

Buying things: 

Now, kids, you must be wondering how buying things work? It is simple. Let's say you want to buy a bar of chocolate, and you take the money with you to buy it. Now when you ask the shopkeeper to give you chocolate, the shopkeeper will give you the chocolate, and take the money. Here, you are buying the chocolate, and the shopkeeper is giving it to you or selling it. Thus, you lose the money and get the chocolate, and the shopkeeper loses the chocolate and gets the money. This is simply exchanging money and a thing that you want to buy. 

Whenever anyone is buying something, the person who wants to buy the thing is known as the Buyer, and the person who is selling the thing and getting the money is called the Seller. See the above animation to understand it easily. 

What is a Price? 

Everything has a price. Be it a toy car, doll, chocolate, pizza, t-shirt, balloon, ball, bat, game or anything, everything has a price. A Price is a value for which you can buy something, by giving money equal to the price of the thing. For example, if a price of an ice cream is 10, then you would also need to give money equal to 10, to buy that ice cream. Yes, it's that simple! 

Adding up the Price:

Now, kids, we know that when we need to buy something, we just see its price, and buy it by giving money equal to the price of that thing. But now what if we are buying many things together? What price will we have to pay here, if the price of everything is different? This is a confusing situation. But you need not worry when KidsCast is here! Here, you simply need to use some maths. You need to add the prices of all the things you are buying. And whatever will be the answer, will be the price of all those things together, or what we call, the Total Price. 

See, not that difficult! For example, in the above picture, we get the price of an ice cream = 10, a pizza = 300, and a cola can = 60. In this case 10 + 300 + 60 = 370. Similarly, if sometimes the same item is 2 times like for example there are 2 pizzas instead of one, in above, then you will add the price of the pizza 2 times, instead of one.

Money can be really simple, you just need to understand it! So kids, this is the end of this article, and we hope you liked it! See you later, till then... Happy Learning!