Describe the functions of money.
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The modern economy cannot work without money. Even in the early stages of economic development, the need for exchange arose. At first, the family or village was a self-sufficient unit. But later on with the development of agriculture and application of the division of labour that is, the division of the society into agriculturists, carpenters, merchants, and so on the need for exchange arose.
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The modern economy cannot work without money. Even in the early stages of economic development, the need for exchange arose. At first, the family or village was a self-sufficient unit. But later on with the development of agriculture and application of the division of labour that is, the division of the society into agriculturists, carpenters, merchants, and so on the need for exchange arose.
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it is the medium of exchange modern money currency are paper notes and coins.It is accepted as a medium of exchange.
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