English

______ are termed as Legal Tender Money. - Economic Applications

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Question

______ are termed as Legal Tender Money.

Options

  • True

  • False

MCQ
Fill in the Blanks

Solution

The statement is False.

Explanation:

Money's primary role is as a means of exchange, facilitating the purchase and sale of commodities and services. While the transfer of value is a crucial function of money, it is often regarded a secondary one. 

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Functions of Money
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Chapter 7: Meaning and Functions of Money - QUESTIONS [Page 182]

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Goyal Brothers Prakashan Economic Application [English] Class 10 ICSE
Chapter 7 Meaning and Functions of Money
QUESTIONS | Q 14. | Page 182
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