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Question
Distinguish between the following.
Metallic Money Paper Money.
Solution
METALLIC MONEY PAPER MONEY
| METALLIC MONEY | PAPER MONEY |
|
Meaning It refers to the money which is made of metals like gold, silver, etc. |
It refers to that money which is in form of paper currency notes issued by Government. |
|
Life They are more durable and as such have a long life |
They are less durable and as such they have a short life |
|
Convenience Metallic coins are not very convenient as they are heavy and there is difficulty in counting. |
Paper money is more convenient as they are light and easy to count. |
|
Suitability They are more suitable for small transactions. |
They are suitable for larger transactions. |
|
Transferability These are difficult to transfer from one place to another. |
These are easy to transfer from one place to another. |
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