Question

Q1) What is double coincidence of wants .1 mark
Q2) How money is used as a medium of exchange. Explain with example.3 marks
Q3) The rupee is widely accepted as a medium of exchange. Explain .5marks
Q4) How do banks play an important role in the economy of India. Explain 5 marks
Q5) Explain the difference between formal and informal credit.5 marks
​

Answer 1

Answer:

question number 4: bank plays a service sector and its plays as important role sector now a days people are dependent on bank only for loans