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Chapters
Chapter 1: Microeconomics and Macroeconomics: Introduction
2: Demand and Law of Demand
3: Theory of Consumer Behaviour: Marginal Utility and Indifference Curve Analysis
4: Elasticity of Demand
5: Supply - Law of Supply and Price Elasticity of Supply
6: Market Mechanism: Equilibrium Price and Quantity in a Competitive Market
7: Laws of Returns - Returns to a Factor and Returns to Scale
8: Cost and Revenue Analysis
9: Forms of Market
10: Producer's Equilibrium
11: Determination of Equilibrium Price and Output Under Perfect Competition
SECTION 2: THEORY OF INCOME AND EMPLOYMENT
12: Theory of Income and Employment
SECTION 3: MONEY AND BANKING
▶ 13: Money: Meaning and Functions
14: Banks: Commercial Bank and Central Bank
SECTION 4: BALANCE OF PAYMENTS AND EXCHANGE RATE
15: Balance of Payments and Exchange Rate
SECTION 5: PUBLIC FINANCE
16: Fiscal Policy
17: Government Budget
SECTION 6: NATIONAL INCOME
18: National Income and Circular Flow of Income
19: National Income Aggregates
20: Methods of Measuring National Income
SECTION 7: PROJECT WORK
21: Project Work
22: Model Short Answer Questions
![Frank solutions for Economics [English] Class 12 ISC chapter 13 - Money: Meaning and Functions - Shaalaa.com](/images/economics-english-class-12-isc_6:557367fb4d974c67badae9e1dbdc022d.jpg "Frank solutions for Economics [English] Class 12 ISC chapter 13 - Money: Meaning and Functions")
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Solutions for Chapter 13: Money: Meaning and Functions
Below listed, you can find solutions for Chapter 13 of CISCE Frank for Economics [English] Class 12 ISC.
Frank solutions for Economics [English] Class 12 ISC 13 Money: Meaning and Functions TEST YOURSELF QUESTIONS [Pages 246 - 248]
Select correct option for each of the following questions:
Which of the following are the unique characteristic features of money?
General acceptability
General purchasing power
Liquidity
All these
Which is the most widely used money in a modern economy?
Paper currency
Deposit money
Metallic money
Commodity money
Currency notes are a form of ______.
Fiat money
Legal tender
Inconvertible money
All the these
Which of these are the primary functions of money?
Medium of exchange
Measure of value
Store of value
Medium of exchange and Measure of value above
Which of the following is not included in the narrow definition of money supply?
Currency with the public
Demand deposits
Time deposits
All of these
Wider (broader) definition of money includes.
Currency with the public
Demand deposits with banks
Time deposits with banks
All of these
High-powered money (monetary base) consists of ______.
Currency held by public
Currency held by the banks in their vaults
Deposits held by the banks as reserves with the central bank
All of these
Very Short Answer Questions
What is meant by barter exchange?
Point out two shortcomings of the barter system of exchange.
Define or explain the following concept:
Double coincidence of wants
What is money?
What is meant by unlimited legal tender?
What is legal tender money?
What is fiat money?
Distinguish between currency and deposit money.
State the two primary functions of money.
Explain the secondary functions of money.
Explain the contingent functions of money.
State any three facts to highlight the importance of money.
Define money supply.
State the components of the supply of money.
State various measures of money supply used in India.
What is high-powered money?
Short Answer Questions
What is money?
What are the different forms of modern money?
Distinguish between currency and deposit money.
Distinguish between limited legal tender and unlimited legal tender.
Distinguish between convertible paper money and inconvertible paper money.
Explain the following term:
Fiat money
Explain the following term:
Deposit money
Explain the following term:
Token money
State the two primary functions of money.
Explain the following function of money:
Medium of exchange
Explain the secondary functions of money.
Explain the secondary functions of money.
Explain the contingent functions of money.
Explain the following contingent function of money:
Employment of factor inputs
Explain the following contingent function of money:
Basis of credit system
What do you mean by the concept of money supply with the public?
Why does the concept of money supply not include money in the treasury of the government and money with the central and commercial banks?
Define the concept of money supply.
Explain the narrow definition (M1) of money supply.
Explain the meaning of M1 measures of money supply.
Explain the meaning of M4, measures of money supply.
Define inflation.
What is supply stock?
Long Answer Questions
What is meant by barter exchange?
Write a short note on:
Difficulties in Barter Exchange (Barter System).
Define or explain the following concept:
Money
Explain primary, secondary and contingent functions of money.
Define money.
Explain the role of money in the functioning of a modern economy.
‘Money is indispensable for the functioning of market economy.’ Discuss this statement in the light of the importance of money in a free enterprise economy.
What is money supply?
State various measures of money supply used in India.
State various measures of money supply used in India.
Distinguish between demand pull inflation and cost push inflation.
Distinguish between wage-push and profit-push inflation.
Thinking Beyond...
In a modern economy, people use ‘plastic money’, like credit cards, to make many of their purchases on account of its convenience and safety. Is a credit card a form of money?
There are some financial assets which are called ‘near money’. Can you identify such financial assets?
What is cryptocurrency?
Solutions for 13: Money: Meaning and Functions
Frank solutions for Economics [English] Class 12 ISC chapter 13 - Money: Meaning and Functions
Shaalaa.com has the CISCE Mathematics Economics [English] Class 12 ISC CISCE solutions in a manner that help students grasp basic concepts better and faster. The detailed, step-by-step solutions will help you understand the concepts better and clarify any confusion. Frank solutions for Mathematics Economics [English] Class 12 ISC CISCE 13 (Money: Meaning and Functions) include all questions with answers and detailed explanations. This will clear students' doubts about questions and improve their application skills while preparing for board exams.
Further, we at Shaalaa.com provide such solutions so students can prepare for written exams. Frank textbook solutions can be a core help for self-study and provide excellent self-help guidance for students.
Concepts covered in Economics [English] Class 12 ISC chapter 13 Money: Meaning and Functions are Supply of Money, Inflation, Functions of Money, Concept of Money, Importance of Money, Types of Money, Barter system, Modern Forms of Money.
Using Frank Economics [English] Class 12 ISC solutions Money: Meaning and Functions exercise by students is an easy way to prepare for the exams, as they involve solutions arranged chapter-wise and also page-wise. The questions involved in Frank Solutions are essential questions that can be asked in the final exam. Maximum CISCE Economics [English] Class 12 ISC students prefer Frank Textbook Solutions to score more in exams.
Get the free view of Chapter 13, Money: Meaning and Functions Economics [English] Class 12 ISC additional questions for Mathematics Economics [English] Class 12 ISC CISCE, and you can use Shaalaa.com to keep it handy for your exam preparation.
