PTE Summarize Written Text Task Sample 183

Read the passage below and summarize it using one sentence. Type your response in the box at the bottom of the screen. You have 10 minutes to finish this task. Your response will be judged on the quality of your writing and on how well your response presents the key points in the passage.

Money: A medium of exchange

Money, a universal medium of exchange, holds a central role in the economic and social fabric of human societies. As a medium of exchange, money facilitates the transaction of goods and services, serving as a unit of account and a store of value. Its existence allows for specialization, trade, and the development of complex economic systems.

Beyond its economic function, money has profound social implications. It influences power dynamics, shaping individual and collective behaviors. Societies often measure success and status through wealth, and individuals may derive a sense of security or fulfillment from financial prosperity. However, the pursuit of money can also lead to ethical dilemmas, inequality, and societal tensions.

The concept of money has evolved over time, from barter systems to physical currency and, more recently, digital forms. The advent of cryptocurrencies and digital transactions reflects the ongoing transformation of money in response to technological advancements.

Money is a tool that can be used for both positive and negative purposes. It enables philanthropy, investment in education, healthcare, and infrastructure, contributing to societal progress. Conversely, the undue focus on material wealth can lead to greed, corruption, and environmental degradation.

In conclusion, money is a complex and multifaceted phenomenon that extends beyond its economic functions. Its influence on human behavior, social structures, and the global economy highlights the need for responsible management and ethical considerations in its use and distribution. Understanding the role of money in society is crucial for fostering a balanced and equitable world.


Money, as a universal medium of exchange, serves as a pivotal tool in facilitating economic transactions and shaping societal dynamics, influencing power structures, individual and collective behaviors, and societal measures of success and status, evolving from barter systems to digital forms, with its impact extending beyond economic functions to include social and ethical considerations, emphasizing the need for responsible management for fostering a balanced and equitable world.