ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Income & outcome
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Income & expenses
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Income & purchases
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None of the above
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Detailed explanation-1: -Types of Money. Although money can take an extraordinary variety of forms, there are really only two types of money: money that has intrinsic value and money that does not have intrinsic value. Commodity money is money that has value apart from its use as money.
Detailed explanation-2: -Currency-paper notes and coins – are now modern forms of money. The current kinds of money-currency and deposits – are inextricably related to the modern banking system’s operation. Currency: The Reserve Bank of India, on behalf of the Indian government, issues currency notes.
Detailed explanation-3: -The 4 different types of money as classified by the economists are commercial money, fiduciary money, fiat money, commodity money. Money whose value comes from a commodity of which it is made is known as commodity money.
Detailed explanation-4: -First: Money is a store of value. Second: Money is a unit of account. Third: Money is a medium of exchange.