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Define money. List its components

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Define money. List its components

    • Posted by Shreya Singh 6 years, 2 months ago

    CBSE > Class 12 > Economics
    • 4 answers

    Kaur Prabjyot 6 years, 2 months ago

    Money is the medium of echange. It has removed the barter system from the world.

    0Thank You

    Srishti Tuli 6 years, 2 months ago

    Money is anything that is generally accepted as a medium of exchange

    0Thank You

    Srishti Tuli 6 years, 2 months ago

    components : 1. Currency with public - currency includes paper notes and coins. These are also known as high powered money. 2. Demand deposits - These are the deposits which are chequable on demand. i.e. can be withdrawn on demand by simply writing a cheque and without any prior notice.

    1Thank You

    Srishti Tuli 6 years, 2 months ago

    Money is anything that is legally accepted for exchange of goods and services

    0Thank You

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