how is money used as a medium of exchange? what are the modern forms of money? why os money transaction system is better than barter system?
Answers
Answered by
3
Money is used as medium of exchange because it is under RBI supervision and as per Indian law no one can deny a payment made in rupees.
Modern forms of money are cheques, paper notes coins etc.
Money transaction is better than barter system because
1 barter system is time consuming
2 evaluation of goods becomes difficult.
Modern forms of money are cheques, paper notes coins etc.
Money transaction is better than barter system because
1 barter system is time consuming
2 evaluation of goods becomes difficult.
Similar questions