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Identify and explain the concept from the given illustration: Charu used her debit card to purchase a shirt for her younger brother. - Economics

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Question

Identify and explain the concept from the given illustration:

Charu used her debit card to purchase a shirt for her younger brother.

One Line Answer
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Solution

(A) Identified concept: Plastic money.

(B) Explanation of concept: Plastic money is a money in the form of credit cards and debit cards that is used in transaction due to advanced technology.

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Chapter 2: Money - Exercise Q.4 [Page 13]

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