ICSE Class 10CISCE
Share
Notifications

View all notifications

How Does Money Act as a Standard of Deferred Payment? - ICSE Class 10 - Economics

Login
Create free account


      Forgot password?

Question

How does money act as a standard of deferred payment?

Solution

Deferred payments refer to payments which are made in the future. Money has made deferred payments easier. When money is borrowed, the principal and interest amounts have to be returned to the lender. However, these transactions are not possible in terms of goods and services. Money performs this function more effectively.

  Is there an error in this question or solution?

APPEARS IN

 2016-2017 (March) (with solutions)
Question 4.2 | 2.00 marks
 2012-2013 (March) (with solutions)
Question 4.3 | 2.00 marks
Solution How Does Money Act as a Standard of Deferred Payment? Concept: Meaning and Functions of Money.
S
View in app×