Merits and demerits of plastic money pdf worksheet

Plastic money was introduced in the 1950s and is now an essential form of ready money which reduces the risk of handlings a huge amount of cash. About some of the advantages and disadvantages of plastic in brief. What are the advantages and disadvantages of money. Plastic money has provided us with the ease of conducting transactions in our. Project on accountancy class trial balance, balance sheet, accounting cycle. Kitchen math home math we have also developed a math skills booklet called simply math to help learners with different math operations that are needed for this series. The money as medium of exchange played an important role by having put to an end the demerits of barter system. With a history of plastic money, you cannot ignore charge cards. Mint in philadelphia to the first dollar bill to america the beautiful quarters, with this cool timeline and challenging quiz. Both abhishek menon and prithvi chatterjee have written answer to your question quite correctly. What are the benefits of using plastic money cashless. Plastic money had fascinated me from a long time and i was curious to go into the details about its usage,this project gave me ample oppurtunity to do so. They can be cheaper than taking surveys which requires a lot of time and money. Some of the drawbacks or risk related to cards are.

Merits and demerits of plastic money based on experiences of peoples free download as word doc. Easy to handle it prevents to carry out heavy wallets, hence, reducing the chances of theft. The security and secrecy of the data on the one hand for the prevention of frauds and the possible run on e money are the major problems of banks and the rbi. Companyissued charge cards can be found as far back as the early 1900s. Im not saying that cards are not useful because of these drawbacks. Plastic consumes very less energy for recycle compared to glass. Disadvantages of plastic money debit card gift card scribd. Plastic money free download as powerpoint presentation.

Money is a current medium of exchange in the form of coins and banknotes. A study on the importance and popularity of plastic money. Most of us use plastic money today, but it is necessary that we clearly understand the merits and demerits of it. Advantages and disadvantages of plastic full essay in points disadvantages of plastic. The use of a debit card in this manner may have a daily limit, with the maximum limit being the amount of money on deposit. Unbacked money has always collapsed within forty years.

It is meant to the used in place of coins and banknotes for the purpose of making electronic payments of small amount fsa, 2001. One possible disadvantage is that the worksheet is likely asking only questions that the worksheet creator considers important. In the beginning iron, copper, tin, bronze, nickel, lead, gold, silver etc were used. Benefits for a merchant merchants too will receive tax benefits for. Disadvantages of plastic money free download as word doc. Cards plastic money is not a complete replacement for cash. Use custom search function to get better results from our thousands of pages use for compulsory search eg. Money one of the most important factor for living life. Plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services. Charge cards laid the groundwork for debit and credit cards.

Merit and demerit goods involve making a value judgement that something is good or bad for you. Some pos terminals allow the user of a visa or mastercard debit card to choose whether the purchase is a credit or debit purchase. Credit card reliance and have cooked up many ways to help you. This articles deals in general about the main merits and demerits of polymer money. Merits and demerits of plastic money based on experiences of. Questionnaires are really inexpensive when they are handled properly. Plastic cash or polymer cash, made out of plastic, is another and simpler method for paying for products and enterprises. However, supporters of cannabis might argue cannabis.

Chargit chargit was the first actual bank card and was issued in 1946. Review of related literature according to patil 2014, plastic money refers to the credit cards or the debit cards that we use to make purchases. Cannabis is widely considered a demerit good it contributes to lung cancer and can lead to psychological problems, such as paranoia. You can get in too much debt, leading to filing bankruptcy. Will platic money become the future of payment system. Easy access to money in the situation of instantaneous want for money, one can withdraw debit the demanded cash amount from the account and. A credit card is a plastic card same as a debit card with a magnetic strip issued by a bank or equivalent authority or a financial company with an option by which you can borrow funds at the point of sale. What are the advantages and disadvantages of credit cards. Merits and demerits of plastic money based on experiences. A student might have a really creative idea or interpretation for a. If the money is backed by something of value it is ok. To study the growth and performance of plastic money in india, reserve bank of india annual and other reports, project reports of related financial institutions and other published materials were referred.

Questionnaires can be of different types, written, postal, telephone and many other methods. Plastic money was introduced in the 1950s and is now an essential form of immediate payment, which reduces the risk of handlings a huge amount of cash. Thus paper money can better meet the requirements of trade and industry. As it is said, money can serve as a good slave, but not as a good master. Suggest possible solutions to challenges in the adoption and use of plastic money in zimbabwe. An abstract on plastic money pdf download by sasidhar karetimarch 01, 20 0.

Plastic money also keeps track of the transactions as they are incurred along. To examine the perception of users and member establishments towards plastic money, primary data. On this penny printable, kids practice tracing letters, counting coins, and they even get to do some fun coloring, too. Its quantity can be increased or decreased at the will of the currency authority. With a credit card, the charges are much easier to dispute, and they do not interfere with your direct lines of income the way that debit cards do. As like advantages the first disadvantages of plastic is the strong and durability is beneficial when it comes to protection but these same features turn evil when it comes to decomposition. Gold standard receives the confidence of the public much more easily and quickly than any other standard. Study of merits and demerit of plastic money based on experiences. Money math is one workbook of the everyday math skills series. The main advantage of plastic money is that it avoids the necessity to carry huge cash and is also difficult to mutilate.

Advantages of plastic money there are several advantages of plastic money as. Plastic money was introduced in the 1950s and is now an essential form of ready money which reduces the risk of handling a huge amount of cash. But governments have always reneged on the deal and slipped the people counterfeit money. What are the demerits and advantages of using plastic. Money is anything that is generally acceptable as a means of payment. Study of merits and demerit of plastic money based on. Credits cards cost much more than other forms of credit, such as a line of credit or a personal loan, in case you are unable to pay them on time. The use of plastic money raises many questions on technical security, control and audit systems. Each and every type have disadvantages that have bad effects also there are many causes that are involved to produce these types of pollution. A credit card is a small plastic card issued to users as a system of payment. Test your second graders money sense with an exercise in counting up dollars and cents.

Plastic money definitely provides an alternative in some cases and compliments cash as a medium. Various products of plastic are available for household and other purposes. The disadvantage being there are still many among us who do not know how to use a plastic card wisely. Plastic money is referring to the credit cards or the debit cards that we use to. The answers provided by cason kim appear to hit the most immediate benefits so i wont repeat them here. The issuer of the card grants a line of credit to the. The disadvantages are just to make you aware of any risks, threats, etc so that you can use it carefully. Money basics overview in these unit lessons, students will be introduced to a brief history of the origin of money as well as the history of money in the united states of america. Study of merits and demerit of plastic money based on experiences of people. Evaluate the possible benefits which plastic money can bring to rural communities in zimbabwe. Learn all about the history of money, from the original u.

It allows its holder to buy goods and services based on the holders promise to pay for these goods and services. It is hard to break down which means that the landfills and seas being affected by plastic will. Plastic money its technical and monetary importance educba. A single question or a topic can be asked to many at the same time without any kind of delay. Students will learn how to count and recognize money, practice money math problems and exercises in addition, subtraction and other math skills. Plastic money or polymer money, made out of plastic, is a new and more natural way of paying for goods and services. Instant money means instant risk if someone got a hold of your debit card, they would be able to take money directly from your bank account. So let us check it out some advantages and disadvantages one by one.

For example, if a worksheet includes questions on what character made what statement on what page, for an english course, i see that as a worksheet that is worse than useless, since it makes. Plastic is strong and water and chemical resistant. This existed during the town economy stage or during the premachine age. Advantages and disadvantages of plastic essay in points. However, plastic money has its share of issues that one must be careful about. Money in the form of currency notes can be cheaply remitted from one place to. Your credit score is a measure of how creditworthy you are that is, how likely you are to pay money back on time when you borrow it. What are the advantages and disadvantages or merits and. Now coming to your concern how dependent should should be people in india. With a credit card, youre spending money you dont necessarily have yet. Yes, it is plastic money in the form of debit or credit card that you carry in your wallet which gives you an easy access to your money.

Using a credit card regularly, and paying the bill on time, is one of the easiest ways to build your credit history and develop a strong credit score. With the drawbacks of commodity money and with economic advancement of the people, metals came to be used as money. Peter, a young mba graduate joins a large software firm as a business development executive. Underlying evilsthough it may look all trendy and flashy to own plastic money especially credit cards, you may be surprised to know, owning it is extremely harmful and risky as well. There are disadvantages also, which are now the concern of rbi. Found a link between the diffusion of plastic money and reductions in the demand. The seven advantages of plastic money called as the credit. But if we observe the present day problems we find that money also played an important role in creating and promoting these problems. Types of pollution are categorized based on the environmental effects and causes that are harmful for the people of this universe.

Based on experiences of peoples introduction introduction to plastic money plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services. So just play carefully with the tiny plastic thing that is placed in. The answers to the problems are contained in the answers section starting on page 11. This means that more the use of plastic money, more will be the income tax returns an offer that is hard to ignore. These cards mainly just kept customers loyal to the company. Review money topics with this nifty practice quiz covering counting coins to solving word problems. A debit card used in this manner is similar to a secured credit card. The use of plastic money raises many questions on technical security, control and audit systems, most favoured technology to detect frauds and operational problems, foreseeing and plugging the weak spots of the cryptography based system. Through this research, i came to know about so many new things about these lovely polymerized pieces. Merits demerits plastic money based experience people jobs. How did all start, in history you might have learnt batter system where goods were traded for goods, then came an era where gold and silver coins came into being, then we modernized we stared using paper notes and coins for trading of goods and services. What are the advantages and disadvantages of teaching with. Money is anything that is generally acceptable as a means of exchange, and in the settlement of debts. Plastic cash was presented in the 1950s and is currently a basic type of prepared cash which lessens the danger of handlings a gigantic measure of money.