Question

Explain at which stage did the paper money started becoming inconvenient.
urgent please help​

Answer 1

Answer:

As the volume of transactions increased, even paper money started becoming Inconvenient because of time involved in its counting and space required for its safe keeping. This led to introduction of Bank Money (or credit money) in the form of cheques, drafts, bills of exchange, credit cards, etc.

Answer 2

Answer:

The process of evolution of some better medium of exchange still continues. As the volume of transactions increased, even paper money started becoming Inconvenient because of time involved in its counting and space required for its safe keeping.

This led to introduction of Bank Money (or credit money) in the form of cheques, drafts, bills of exchange, credit cards, etc. These days plastic money in the form of debit cards are becoming popular. Thus, bank money has become the most important form of money in modern times because it is not only a very convenient form of money for large payments, but also eliminates risks and is durable.