Download App

Money and Banking — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsMoney and Banking1 Mark
Question
Define fiduciary money.
✓

Answer

It is also known as optional or voluntary money. Its acceptance is not compulsory, but is based on mutual trust. Drafts, cheques, bills of exchange, etc are examples of fiduciary money.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "1 Marks Question" from Money and Banking→Money and Banking — all question types→Economics STD 12 Humanities & Commerce question papers→Rajasthan Board STD 12 Humanities & Commerce question papers→Rajasthan Board question paper generator→

Similar questions

Total receipts and total payments of Balance of Payments statements are always equal. Do you agree?
→
Give the formula for money creation.
→
If $\text{NDP}_{\text{FC}}$ is $₹ 1,0000$ crores and $\text{NFIA}$ is $(-) \  ₹ 500$ crores, how much will be the national income?
→
If the domestic factor income is ₹ 50,000 crores and the national income is ₹ 45,000 crores, how much will be the net factor income from abroad?
→
Will the following items be included or not in National Income of India? Give reason for your answer.
Rent free accommodation to employees.
→
Ten US dollars are exchanged for five hundred Indian rupees. What is the exchange for Indian currency?
→
What is the condition for the equilibrium level of income?
→
Give two example of intermediate goods.
→
If planned savings are greater than planned investment, what will be the effect on inventories?
→
Define tertiary sector.
→