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How Does Money Help in Maximising Utility? - ICSE Class 10 - Economics

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Question

How does money help in maximising utility?

Solution

Money enables consumers in making payments for goods and services of their needs. It provides freedom of choice of consumption. On the basis of prices of various goods and services, consumers are able to allocate their income in such a way so that they can derive maximum utility from their consumption.

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APPEARS IN

 2015-2016 (March) (with solutions)
Question 1.3 | 2.00 marks
Solution How Does Money Help in Maximising Utility? Concept: Evolution of Money.
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