Question

1. Complete the correlation :
1) Primary function of money: Medium ofexchange
Bossofono: Secondary functions of
money standard of deemed paymes
3) Commodity money: Shells ::
4) Divisibility : Smaller denomination:
Easy to carry from one place to another.
5) Barter system: Goods: Modern economy​

Answer 1

Answer:

Money refers to a common medium of exchange that is issued under the law of government and acts as a legal tender for the whole country. The functions of money can be classified into the following three categories :-

1. Primary function: The primary function of money includes money as a medium of exchange and money as a measure of value.

(a) As a medium of exchange, it refers to a function of money in which money is considered as a mode of exchanging goods.

Explanation:

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