7- How is money used as a medium of exchange? Explain with examples. 8- Examine the role of Political Parties in a democratic country.
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7.Money acts as an intermediate in the exchange process. Following example justify the use of money as a medium of exchange
(1) In day-to-day transactions, goods are being bought and sold with the use of money.
(ii) The transactions are made in money as a person holding money can easily exchange it for any commodity or services.
(iii) Use of money has made things easier to exchange as we can exchange it for any commodity we need.
8.In democratic countries, members of political parties often are allowed to participate in elections to choose the party leadership. Party members may form the base of the volunteer activists and donors who support political parties during campaigns.
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