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EMERGING ISSUES IN INDIAN ECONOMY — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsEMERGING ISSUES IN INDIAN ECONOMY2 Marks
Question
What do you understand by the word ‘purchasing power’?
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Answer

The financial ability to buy goods and services is known as purchasing power. In other words, purchasing power is the value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.

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