Final answer:
How to use money is a practical skill, deciding whether to give money to someone in need is a social skill, and determining grocery expenses is also a practical skill. Money serves as a medium of exchange, a unit of account, a store of value, and a standard of deferred payment.
Step-by-step explanation:
The use of money encompasses different skills. When it comes to 'how to use money,' this is primarily a practical skill, as it involves the application of knowledge in real-life scenarios, like managing a budget. Deciding 'whether to give my money to a person in need' involves a social skill, as it pertains to interpersonal interactions and the understanding of societal values and norms. Lastly, 'how much money to pay for my groceries' is also a practical skill, since it involves calculations, comparisons of prices, and making purchase decisions based on available funds.
Money serves many purposes in society, such as being a medium of exchange for goods and services, a unit of account for measuring value, a store of value for future use, and a standard of deferred payment when considering credit situations. Different forms of money, like commodity and fiat money, facilitate these functions. Conventional bartering systems without money require a double coincidence of wants, which is less efficient compared to the use of general-purpose money like cash or bank deposits.