Why is money called the medium of exchange? - Vidyadip

MCQ

Why is money called the medium of exchange?

A
Goods are being bought and sold with the use of money.
B
Use of money has made things easier to exchange.
C
Money acts as an intermediate in the exchange process.
D
Without exchange of money nobody can fulfil all his needs and requirements.

✓

Answer

Money acts as an intermediate in the exchange process.

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 "MCQ [1M - ECONOMICS]" from Unit 4 Ch 3 : Money and Credit→Unit 4 Ch 3 : Money and Credit — all question types→Social Studies STD 10 question papers→CBSE Board STD 10 question papers→CBSE Board question paper generator→

Similar questions

Fill in the blank:

SECTOR	CRITERIA USED
Organized & Unorganized	Nature of employment activities
Public & Private	?

Read the information given below and select the correct option :
Kamal is a daily wage labourer in a nearby grocery shop. He goes to the shop at 7:30 in the morning and works till 8:00 p.m. in the evening. He gets no other allowances apart from his wages. He is not paid for the days he does not work. He has, therefore, no leave or paid holidays. Nor was he given any formal letter saying that he has been employed in the shop. He can be asked to leave anytime with his employer. In which sector Kamal is engaged? Tick the most appropriate option.

Laxmi, owning about two hectares of unirrigated land-dependent only on rain and growing crops, like jowar and arhar. All five members of her family work in the plot throughout the year. Everyone is working, none remains idle, but in actual fact, their labour effort gets divided. Each one is doing some work but no one is fully employed. Which situation is being faced by Laxmi and her family?

Banks use the major portion of the deposits to.

What was the main drawback for the consumer?

Which one of the following is the main source of credit for rich urban households in India?

Greater the development of the primary and secondary sectors, ……… would be the demand for such services?

Which Indian companies have invested abroad?

In India, the consumer movement as a _________ originated with the necessity of protecting and promoting the interests of consumers against unethical and unfair trade practices?

COPRA was enacted in which of the following years the year: