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प्रश्न
Explain, with reasons, whether you Agree or Disagree with the following statements
Good money has many qualities.
उत्तर
Agree. The following are the qualities of good money:
i. General acceptability: Good money is the one which is readily accepted by all without any reluctance. This quality is possessed by gold and silver.
ii. Divisibility: Any commodity acts as good money if it can be divided into small units. For example, currency notes, gold, silver and coins possess the quality of divisibility as they can be divided into different denominations.
iii. Durability: It should possess the quality of durability. That is, it should be long-lasting. As currency coins are made up of metal, these are more durable compared to currency notes.
iv. Cognizibility: By cognizibility, we mean that good money is the one which is easily recognisable by all the members of the society and so special efforts are not required to recognise it.
APPEARS IN
संबंधित प्रश्न
Give reasons or explain the following
Old age pension is transfer income.
Explain, with reason,whether you Agree or Disagree with the following statement :
General acceptability is the only quality of good money.
State whether the following statement is true or false.
Money facilitates estimation of national income.
