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प्रश्न
Explain various stages in the evolution of money.
Mention different stages in the evolution of money.
उत्तर
Stages in the Evolution of Money:
- The first stage in the evolution of money is commodity money. In the olden days, commodities (such as shells, bows, arrows, stones etc.) were used as medium of exchange.
- In the second stage metallic money was used as full bodied money.
- From 19th century onward, next important stage in the evolution of money is the paper money.
- In modern times, demand deposits at banks (called bank money) are used as money.
- Plastic money in the form of debit cards, credit cards are becoming more popular these days.
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संबंधित प्रश्न
Complete the correlation
_________ : Basis of Credit :: Secondary function of money : Standard of deferred payments.
Complete the correlation
Commodity money : Shells ::__________ : Credit card.
Complete the correlation
Divisibility : Smaller denominations :: __________ Easy to carry from one place to another
Suggest an economic term for the given statement:
Credit instrument through which bank deposits are transferable - _________
Suggest an economic term for the given statement:
Monetary value stored and transferred electronically by means of computer hard drive or servers - _________
Identify and explain the concept from the given illustration:
Babanrao deposits his money in a nationalized bank.
Identify and explain the concept from the given illustrations:
To prevent misuse/fraudulent use of the national currency, a note ban is imposed on its use at certain times.
State with reason whether you agree or disagree with the following statement:
Money can be sent anywhere through electronic means.
Read the following statements - Assertion (A) and Reason (R). Choose one of the correct alternatives given below:
Assertion (A): Demand deposits with Commercial banks cannot act as money.
Reason (R): Bank money refers to bank demand deposits.
Distinguish between standard money and bank money.
