Social Science: Money and Credit - Role of Money in an Economy

How does money act as a medium of exchange?

Solution

Money acts as a medium of exchange by facilitating the process of exchange and by removing the defects of the barter system.

Concept: Role of Money in an Economy

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Q 4 Q 3 Q 5

2014-2015 (March) All India Set 2

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2014-2015 (March) All India Set 2 (with solutions)

Q 4 | 1 mark

2014-2015 (March) All India Set 3 (with solutions)

Q 7 | 1 mark

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Social Science: Money and Credit - Role of Money in an Economy

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