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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. |
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संबंधित प्रश्न
Explain how money acts as a measure of value.
The function of money which allows a person to pay for a commodity at a future date is called as ______.
Which of the following is a contingent function of money?
______ 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 of these is the primary function of money?
Which money is used to settle debts or make payment in future, it is said to perform the function of:
‘Which function of money is most closely linked to saving?
How does money act as a measure of value?
How does money perform its role as medium of Exchange.
