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प्रश्न
Define money.
उत्तर १
Crowther defined money as ‘anything that is generally accepted as a means of exchange and at the same time acts as measure and store of value’.
उत्तर २
Many economists developed definitions for money. Among these, definitions of Walker and Crowther are given below: “Money is, what money does” – Walker. “Money can be anything that is generally accepted as a means of exchange and at the same time acts as a measure and a store of value” – Crowther. Money is anything that is generally accepted as payment for goods and services and repayment of debts and that serves as a medium of exchange. A medium of exchange is anything that is widely accepted as a means of payment.
Notes
Student can refer to the provided solution based on their prefer marks.
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संबंधित प्रश्न
Choose the correct option:
Arrange in the order of evolution of money
- Metallic money
- Animal money
- Metallic coins
- Commodity money
Choose the correct option:
Arrange in the order of evolution of money
- Plastic money
- Paper money
- Electronic money
- Credit money
Suggest an economic term for the given statement:
The act of exchanging goods for goods - _________
Suggest an economic term for the given statement:
Provision for making payments in future- ________
Suggest an economic term for the given statement:
A system that makes use of currency for facilitating payments - _________
Identify and explain the concept from the given illustration:
Vasantsheth provides coal from his shop to farmers in exchange of food grains.
State with reason whether you Agree or Disagree with the following statement:
There are many good qualities founds in modern currency.
Money is ______.
The paper currency system is managed by the ______.
“Money can be anything that is generally accepted as a means of exchange and that the same time acts as a measure and a store of value”, This definition was given by ______.
What is barter?
What is the gold standard?
What is plastic money? Give example.
Explain the functions of money.
Explain why the purchasing power of money falls when the price level rises.
