ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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No way
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Yes this is true
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Money is only coins and currency like a $20 bill
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None of the above
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Detailed explanation-1: -Money: Money is anything that acts as a medium of exchange. Money is accepted by a seller in exchange of his goods and services. It also acts as a common measure of value.
Detailed explanation-2: -Medium of Exchange: Right from the beginning, money has been performing the important function of medium of exchange in the society. Money facilitates transactions of goods and services as a medium of exchange.
Detailed explanation-3: -money: anything customarily. used as a medium of exchange, a unit of accounting, and a store. of value.
Detailed explanation-4: -1. It is accepted as a medium of exchange because the currency is authorized by the Government of India. 2. In India, the Reserve bank of India issues currency notes on behalf of the Central Government of India.