Q. 13. Identify the FALSE statement:
O There is no common unit of value in Barter System O Money may be used as a commodity O Money has separated the acts of sale ad purchase O Higher the LRR, higher will be the Credit creation. O
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Explanation:
) Medium of exchange is primary function of money.
Explanation:
The main function of money is to act as a medium of exchange. It facilitates exchange through a common medium i.e. facilitates exchange through currency and eliminates the need for double coincidence of wants for an exchange to take place. Therefore, it can be concluded that medium of exchange is the primary function of money.
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