Meaning and Functions of Money — Important Questions
ICSE · Class 10 · Economic Application
60 important questions from Meaning and Functions of Money for ICSE Class 10 Economic Application, with answers. Written for the board exams 2027.
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Important Questions from Meaning and Functions of Money
Which of the following is a primary function of money?
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Medium of exchange
Medium of exchange is one of the two primary functions of money. The other primary function is measure of value.
Which of the following is a secondary function of money?
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Store of value
Store of value is a secondary function of money. It means money can preserve purchasing power for future use.
Which of the following is a form of money?
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Near money
Near money is one of the forms of money. It includes assets like time deposits and bills of exchange.
In India, which unit is the standard unit of money?
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The rupee
The rupee is the standard unit of money in India.
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