WebMedium Solution Verified by Toppr Money acts as a medium of exchange as it acts as an intermediate in the exchange process and transactions. Buying and selling of commodities are done with the exchange of money. Was this answer helpful? 0 0 Similar questions What is a medium of exchange? Medium View solution > WebSolution. Medium of Exchange: Right from the beginning, money has been performing the important function of medium of exchange in the society. Money facilitates transactions …
Question : 11) The functions of money are A) medium of exchange…
WebSolution. Verified by Toppr. Money acts as a medium of exchange as it acts as an intermediate in the exchange process and transactions. Buying and selling of … WebModern forms of money include currency paper notes and coins. Unlike the things that were used as money earlier, modern currency is not made of precious metals such as … iaff 3711
How is money used as a medium of exchange? Explain with …
Web31 okt. 2024 · Money is used as a medium of exchange because it can be used in any fraction or whole (1’s and 0’s). In other words, the currency we use doesn’t have to be … Web12 apr. 2024 · Relations between Morocco and Spain enjoy a long history of cultural, economic, security, etc. cooperation and exchange. However, this cooperation faces many challenges, especially in light of global geopolitical and economic events. One of the most important challenges facing relations between the two countries is to preserve their … Web29 sep. 2024 · (a) Legally, money is anything proclaimed by law as a medium of exchange. (b) Paper notes and coins (together called currency) is money as a matter of law. (c) Nobody can refuse its acceptance as medium of exchange. FIAT Money: It is defined as a money which is under the ‘FIAT’ (order/authority) of the government to act … iaff 3666 facebook