Functions of Money and Banking
CBSE, JEE, NEET, CUET
Question Bank, Mock Tests, Exam Papers
NCERT Solutions, Sample Papers, Notes, Videos
Posted by A Roy 5 years, 3 months ago
- 1 answers
Test
Related Questions
Posted by Mehar Ansari 1 year, 4 months ago
- 0 answers
Posted by Shruti Singh 1 year, 5 months ago
- 0 answers
Posted by Rijum Karlo 1 year, 4 months ago
- 0 answers
Posted by Naman Jain 1 year, 4 months ago
- 1 answers
Posted by Nandita Sharma 1 year, 5 months ago
- 1 answers
Posted by Niyati Garg 1 year, 4 months ago
- 0 answers
Posted by Dipika Sharma 1 year, 4 months ago
- 0 answers
myCBSEguide
Trusted by 1 Crore+ Students
Test Generator
Create papers online. It's FREE.
CUET Mock Tests
75,000+ questions to practice only on myCBSEguide app
Meghna Thapar 5 years ago
The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Any item or verifiable record that fulfils these functions can be considered as money. Money is an economic unit that functions as a generally recognized medium of exchange for transactional purposes in an economy. Money provides the service of reducing transaction cost, namely the double coincidence of wants.
0Thank You