ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Currency serves as a means of exchanging commodities and services. Money in the form of paper or coins, issued by a government and accepted at face value, is known as currency. In bartering, goods and services were exchanged directly for other goods and services .

Detailed explanation-2: -Answer and Explanation: Money is used as a tool to make trade easier in an economy. The prices of goods act as signals for market participants.

Detailed explanation-3: -What Is Currency? Currency is a medium of exchange for goods and services. In short, it’s money, in the form of paper and coins, usually issued by a government and generally accepted at its face value as a method of payment.

Detailed explanation-4: -Commerce is an exchange between two parties of goods or services for money.

Detailed explanation-5: -In trade, barter (derived from baretor) is a system of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money.