what is money ? what are its functions.
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Money is a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
Money is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account. Medium of exchange. Money's most important function is as a medium of exchange to facilitate transactions.
hope it clarifies ur doubt dear friend..
Money is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account. Medium of exchange. Money's most important function is as a medium of exchange to facilitate transactions.
hope it clarifies ur doubt dear friend..
Answered by
17
Heya....
** Definition of money....
--->>> Money is what that money does..
It is an instrument that is commonly accepted as a medium of exchange and signed by authority....
** Functions of money....
-->> It acts as a medium of exchange goods and services....
-->> It can used as store value for future needs...
-->> Money is the basic element of economic transactions....
** Definition of money....
--->>> Money is what that money does..
It is an instrument that is commonly accepted as a medium of exchange and signed by authority....
** Functions of money....
-->> It acts as a medium of exchange goods and services....
-->> It can used as store value for future needs...
-->> Money is the basic element of economic transactions....
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