what are the difficulties of metal money and paper money with examples
Answers
metal money is durable but paper money is not.
The paper notes have the following qualities which metal money does not have .
1. Portability :-
Notes are easily portable. It is very easy for making the payments in different placers and it is preferred than the metallic money.
2. High Value In Small Bulk :-
No any sort of money can be compared with our modern notes because its weight is minimum and value is high.
3. Economical In Cost :-
The printing of paper money is very quick, cheap, and economical as compared the metallic money.
4. Saving Of Precious Metals :-
The use of paper money has saved a lot of precious metals like gold and silver. The wear and tear of these metals also saved. The precious metals can be used for the productive purposes.
5. Easy In Counting :-
Paper currency can be counted more easily than coins. The counting of metallic money is a very difficult job.
6. Easily Recognizable :-
The paper money is easily recognizable. There is no botheration of testing the genuineness of the money material.
7. Uniform Quality :-
The paper money has another advantage that has a uniform quality and the holder least bothers for possession of new or old money.
8. Useful In Emergency :-
The government can increase its resources by printing of more notes and can meet its requirements.
9. Elastic Supply :-
The volume of paper money can be very easily expanded in accordance with the needs of the country. While the metallic money supply is in elastic.
10. Useful For Development :-
Paper or credit money is very useful for trade and industrial sector. If any person wants to establish factory or wants to import any commodity it facilities him.
11. Stability :-
The value of metalic money changes with the passage of time. But the paper money value remains stable because its weight can not reduce by using it.
12. Easy Payment :-
Through paper money you can make the payments in million rupees, easity. While it is very difficult to make such payments in metalic money.
Hope it will help you dear.
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