Question

distinguish between
secondary function and contingent function of money


(atleast 4 points ,) .​

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.

2. Secondary function: The secondary function of money includes money as a store of value and money as a standard of deferred payment.

3. Contingent function:

(a) Distribution of national income: Money helps in optimum distribution of national income among different factors of production by generating factor incomes like rent, interest, wage and profit.

Answer 2

see the attachment

for the answer