Money — Important Questions
Telangana Open School (TOSS) · Class 12 · Economics
45 important questions from Money for Telangana Open School (TOSS) Class 12 Economics, with answers. Written for the board exams 2027.
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Important Questions from Money
Which of the following is considered legal tender in India?
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One rupee coin
Legal tender money is issued by the government or central bank and must be accepted in payment. Coins are legal tender.
What was used as money in ancient times?
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Grains and cowrie shells
Before coins and paper money, people used items like grains, cowrie shells, and cattle as money.
Which economist said, 'Money is what money does'?
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Walker
Walker emphasized the functions of money rather than its form, saying 'Money is what money does'.
Which of the following is a primary function of money?
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Store of value
Primary functions include medium of exchange and store of value. The others are contingent functions.
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