Question

What are the various forms of modern money

.​

Answer 1

Answer:

(i) Metallic Money, (ii) Paper Money, and (iii) Credit Money. The first two kinds of money are in the form of currency money and the last one is credit or bank money.

hope you like it .

please mark this as brainleist.

Answer 2

Various forms of money are:-

• Cheques:

It acts as a method of exchange feasible through bank accounts. It is a paper that instructs the bank to pay a distinct amount of money which is written in numbers on the cheque.

• Bank deposit:

A Bank deposit also acts as a form of money in which a person keeps his money in the bank for safety and as a form of saving. People can easily open their bank accounts and make deposits.

• Coins and Currency-paper notes:

Due to the government authority coins and currency notes are used as a form of money. They are not made of any expensive material and people rarely use them.