Maharashtra State BoardHSC Arts 12th Board Exam
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Give Reasons Or Explain the Following Statement: Invention of Money is the Most Important Invention of Human Economic History. - Economics

Give reasons or explain the following statement:

 Invention of money is the most important invention of human economic history. 

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Solution

Invention of money is the most important invention of human economic history as it not only performs various functions such as being the medium of exchange, being store of value, etc., but also, overcomes the various drawbacks of the barter system such as double coincidence of wants, problem of indivisibility, etc.

Concept: Monetary Payments
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