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Basic Concepts in Economics — Economics STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsEconomicsBasic Concepts in Economics2 Marks
Question
A farmer sold 2 kg rice for ₹ 100/-
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Answer

Exchange : It refers to the worth of a commodity or a service expressed in terms of a commodity. In the above case farmer exchanges rice i.e. commodity for cash.

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