ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A huge amount of money for the purpose of buying a car and a house
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A small amount of money for minor expenses
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Money in your wallet
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The money you use for your day-to-day expenses
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Detailed explanation-1: -: money for small personal expenses.
Detailed explanation-2: -allowance, change, loose change, mad money, petty cash, pin money, small change.
Detailed explanation-3: -Before the advent of pockets in shirts and trousers, money was kept in bags and sachets. Later, a smart tailor made a pocket on a garment and it became so useful, further innovations made a pocket suitable to safely keep money. From then on, money kept in pockets for expenses came to known as pocket money.
Detailed explanation-4: -Pocket money can help children learn about money management and responsibility. Your decisions about pocket money will depend on your family circumstances and values. If you decide to give pocket money for chores, be clear about your expectations. Your child learns a lot by watching how you deal with money.