Web• Money acts as a common measure of value for different goods and services. • Money acts as a medium of exchange in an economic system. • Removes the need for double coincidence • Money has store of value Modern Forms of money: Currency: Modern currency includes coins and paper notes. In earlier times Web30 sep. 2024 · (a) other people in the village prefer to borrow from the moneylenders. (b) banks demand collateral which everyone cannot provide. (c) interest rate on bank loans is same as the interest rate charged by the traders. Answer: (a) will rise (b) banks demand collateral which everyone cannot provide. Question 7.

5 - The 10 Uses of Money - Christian Financial Perspectives

Web14 jan. 2024 · Now he will have to look for a rice growing farmer who not only wants to sell rice but also wants to buy the shoes in exchange. (A) Double coincidence of wants. (B) Goods exchange with goods. (C) Goods exchange with money. (D) None of the above. Answer: (A) Double coincidence of wants. Question 18. WebModern form of Money In the early ages, Indians used grains and cattle as money. Thereafter came the use of metallic coins – gold, silver, copper coins – a phase which … plant with holes in leaves name

27.1 Defining Money by Its Functions - OpenStax

Web10 okt. 2024 · Money and Credit Class 10 Notes: Modern Form of Money. As per the chapter, there are two major modern forms of money, i.e. currency and bank deposits. … Web7 aug. 2024 · Money as a Store of Value. Money serves as a store of value. It enables a person to keep a portion of his assets liquid. Liquid assets are those which can be used for any purpose at any time. You may buy things by using these modes of money. Money is best kept as a store of value to be used as and when the need arises. WebIn the modern monetary systems, there are three forms of money in actual use: (i) Metallic Money, (ii) Paper Money, and (iii) Credit Money. The first two kinds of money are in the … plant with highest number of chromosomes