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Money acts as an intermediate in the exchange process explain?

Posted by Manjali Chaturvedi 5 years, 3 months ago

CBSE > Class 10 > Social Science

1 answers

Vaishnavi Koppineedi 5 years, 3 months ago

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. Thus, it can be concluded that Money acts as an intermediate in the exchange process

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CBSE > Class 10 > Social Science