Explain the role of money as the medium of exchange???
[CBSE 2017 (All India)]
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money can be used as medium of exchange.
for example i have fruit andi wanna buy shoes but the shoes seller want rice.
so here money can solve the problem as i can exchange fruit for money and bit shoes and the seller will exchange money for rice.
for example i have fruit andi wanna buy shoes but the shoes seller want rice.
so here money can solve the problem as i can exchange fruit for money and bit shoes and the seller will exchange money for rice.
jasspatwalia212:
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1)In Ancient Times Exchange of goods were taken as a medium of exchange in which both rhe buyers are need be ready for trade of each others comodities and this system is calked barter system
2)Later Coins, notes and other rhings were used as medium of exchange And we also said them money.
3)Money when taken as medium of exhange Double coincidence of wants were finished
2)Later Coins, notes and other rhings were used as medium of exchange And we also said them money.
3)Money when taken as medium of exhange Double coincidence of wants were finished
This is the totally right answer
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