Meaning and Functions of Money
ICSE · Class 10 · Economic Application
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Quick Quiz: Meaning and Functions of Money
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What is money commonly accepted as in exchange for goods and services?
Double coincidence of wants means what?
Which of the following is one of the five stages in the evolution of money?
Which economist gave the functional definition of money?
Sample Questions
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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