Q8 of 48 Page 1

How does money act as a medium of exchange?

Money acts as a medium of exchange because any good can be bought or sold with the money as their value is already decided in the market in terms of money.


More from this chapter

All 48 →
6

What is meant by the double coincidence of wants?

 7

Suppose your parents want to purchase Gold jewellery along with you; then which logo will you look for on the jewellery?

 9

How did nationalism develop through culture in Europe? Explain.

Or


How did Paul Bernard argue in favour of economic development of Vietnam? Explain.

 10

Describe the main features of ‘Poona Pact’.