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Fill in the Blank with Appropriate Alternatives Given Below Introduction of __________ Removed Difficulties of Barter. - Economics

MCQ

Fill in the blank with appropriate alternatives given below

Introduction of __________ removed difficulties of barter. 

Options

  • metals

  • bank

  • money

  • shares

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Solution

Introduction of money removed difficulties of barter.

Explanation: Barter system had many difficulties like the problem of double co-incidence, common measure of value, the problem of standard method of deferred payment etc. which were solved by the introduction of money. Money has overcome the drawbacks of the barter system and serves as an effective medium of exchange to facilitate trade.

Concept: Meaning of Money
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 11 Money
Exercise | Q 1.4 | Page 101
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