BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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bonds
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money
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savings
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stocks
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Detailed explanation-1: -Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context.
Detailed explanation-2: -The correct option is (C) money. To an economist, money is anything that is generally accepted in payment for goods and services or the repayment of debt. Money is something that the parties of the transaction agree to have value. The transaction can be of exchange of goods or services or repayment of debt.
Detailed explanation-3: -Money is anything accepted as payment for goods and services. For money to be a suitable means of exchange, it should be scarce, durable, portable, and divisible. Money functions as a medium of exchange, a standard of value, and a store of value.
Detailed explanation-4: -Commerce is an exchange between two parties of goods or services for money.