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Mention the types of value of money and describe them. -

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Question

Mention the types of value of money and describe them.

Short Note

Solution

The value of money is of two types:

  1. Internal value of money: It refers to the purchasing power of money over domestic goods and services.
  2. The External value of money: It refers to the purchasing power of money over foreign goods and services.
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Value of Money
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