10th Class Social Science Money and Credit Question Bank 10th CBSE Social Science Money and Credit

  • question_answer   "Money acts as an intermediate in the exchange process". Explain.

    Answer:

                    Money is the modern form of currency that is accepted as the medium of exchange and is a measure of value. In a Barter System, where goods are directly exchanged without the use of money, double coincidence of wants is essential. By serving as a medium of exchange, money removes the difficulties associated with the Barter System. Money is authorised by the government of the country and nobody can legally refuse it as a medium of exchange for goods or services.


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