Deposit money (like bank deposits) is the most widely used form of money in a modern economy because most transactions are done through cheques, debit cards, and online transfers. It is more convenient and safer than paper or metallic money.
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Question
Which is the most widely used money in a modern economy?
Options
Paper currency
Deposit money
Metallic money
Commodity money
MCQ
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Solution
Deposit money
Explanation:
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