Maharashtra State BoardHSC Arts 12th Board Exam
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Fill in the Blank with Appropriate Alternatives Given Below in the Initial Stage of Development, __________ Was Used. - Economics

MCQ

Fill in the blank with appropriate alternatives given below

In the initial stage of development, __________ was used. 

Options

  • credit money 

  • paper notes

  • metallic coins

  • commodity money

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Solution

In the initial stage of development, commodity money was used. 

Explanation

Initially, human beings exchanged goods and services for other goods and services. In other words, commodity exchange or commodity money was more prevalent. Commodities like sea-shells, salt, gold or other precious commodities were used as money for the exchange of goods and services.

Concept: Function of Money - Secondary Functions
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 11 Money
Exercise | Q 1.5 | Page 101
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