Question

What are the advantages of money? explain in 5 points (class 10)

Answer 1

Answer:

(i) It renders double coincidence of wants unnecessary. It thus facilitates exchanges and the satisfaction of wants.

(ii) It provides a common measure of value. It thus gives a precise idea about the relative value of commodities.

(iii) It is capable of sub-division. As such it helps in the completion of even minute transactions which is great gain to society.

(iv) It serves as a convenient store of value.

Explanation:

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Answer 2

Answer :-

(i) It renders double coincidence of wants unnecessary. It thus facilitates exchanges and the satisfaction of wants.

(ii) It is capable of sub-division. As such it helps in the completion of even minute transactions which is great gain to society.

(iii) It serves as a convenient store of value.

(iv) Money and prices determine the total amount of material goods that a salaried man or a wage-earner can consume.

v) It provides a common measure of value. It thus gives a precise idea about the relative value of commodities.