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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
Complete the correlation
Barter system : Goods :: Modern economy :________
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 - _________
State with reason whether you Agree or Disagree with the following statement:
There are many good qualities founds in modern currency.
What is barter?
What is commodity money?
What is the gold standard?
What is plastic money? Give example.
Write a note on metallic money.
Explain the functions of money.
Explain why the purchasing power of money falls when the price level rises.
