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How does money as a medium of exchange

Posted by Mihul Singhal 6 years, 10 months ago

CBSE > Class 10 > Social Science

3 answers

Yogita Ingle 6 years, 10 months ago

Money acts as an intermediate in the exchange process. Following example justify the use of money as a medium ofexchange
(i) In day-to-day transactions, goods are being bought and sold with the use of money.
(ii) The transactions are made in money as a person holding money can easily exchange it for any commodity or services
(iii) Use of money has made things easier to exchange as we can exchange it for any commodity we need.

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Vani Singh 6 years, 10 months ago

Money is issued by rbi It reduces the double coincidence of wants Efficient medium of exchange

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Nayan Raj Yadav? 6 years, 10 months ago

It fulfills the double coincidence of wants

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CBSE > Class 10 > Social Science