Question

Is the following statement true or false? Give reasons to support your answer.

We can do nothing without money.

Options

• True

• False

Answer 1

This statement is true.

Explanation:

Yes, we cannot accomplish anything without money. Money is the only medium of exchange. Money serves a variety of tasks, including medium of trade, measure of value, store of value, and standard of deferred payment. Thus, money is very important in the economy.