What are functions or characteristics of money? Why are they important?
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The funstion of money is that it acts as a medium of exchange, as a value and a unit of account.
It is important beacuse:
==> Money cancels the need for double coincidence of wants which is present in barterr system.
==> It is efficient and easy to do transactions and to handle.
==> No citizen can avoid the transaction done in rupees, as it is official recongnised by the Reserver Bank of India.
Hope it helps..!
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