Question

2) Arrange in the order of evolution of money.
a) Plastic money
b) Paper money
c) Electronic money
d) Credit money
Option : (1) b, d, a,
2) a, b, c, d
3) d, c, b, a
4) c, b, a, d​

Answer 1

1) Paper money

2) Credit money

3) Plastic money

4)Electronic money

Answer 2

The right option is b, d, a, c in order of evolution of money.

Option: (1)

Explanation:

• In the early times, it was not safe to be carrying gold and silver coins in terms of metallic money. Hence came the concept of paper money.  

• The invention of paper money marked a very important stage in the development of money. Thereafter came in the process of credit money where money was kept in the form of cash in the banks by the people.  

• They could withdraw the money when required. The next phase was the plastic money in the form of debit and credit cards.  

• The last stage is the new form of electronic money which is through online transactions.