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प्रश्न
Distinguish between limited legal tender and unlimited legal tender.
उत्तर
Money which has legal sanction behind it and accepted as a means of payment is known as legal tender money.
It is of two types:
| Limited Legal Tender Money | Unlimited Legal Tender Money |
| Money which no person can be forced to accept beyond a certain maximum limit is called limited legal tender money. | Money which is accepted by the people to an unlimited extent is called unlimited legal tender money. |
APPEARS IN
संबंधित प्रश्न
Money performs both primary and secondary functions.
Identify a specific function of money which is related to future payments. State a reason.
______ are termed as Legal Tender Money.
Match the following and select the correct option:
| Column A | Column B | ||
| (i) | Currency Notes | A. | General acceptability |
| (ii) | Demand deposits | B. | Lack of double coincidence of wants |
| (iii) | Feature of money | C. | Legal tender |
| (iv) | Problem of barter exchange | D. | Bank money |
Which money is used to settle debts or make payment in future, it is said to perform the function of:
How does money help in the distribution of national income?
How does money perform its role as medium of Exchange.
How does money perform its role as store of value.
Explain the secondary functions of money.
Describe how money has removed the defects of the barter system.
How does money help the consumers and producers?
