Download Meaning and Classification of Money PDF

TitleMeaning and Classification of Money
Tags Currency Legal Tender Medium Of Exchange
File Size301.8 KB
Total Pages19
Document Text Contents
Page 18

Whether the following statements are true or falseWhether the following statements are true or false

1.1. ““ Money is what money does” said by wMoney is what money does” said by walker alker 

2.2. Money is in the normal sense, means currencyMoney is in the normal sense, means currency

3.3. Measure of value is an essential function of moneyMeasure of value is an essential function of money

11.8 11.8 Key Key conceptsconcepts

Medium of exchangeMedium of exchange

Measure of valueMeasure of value

Store of valueStore of value

Differed PaymentsDiffered Payments

Representative MoneyRepresentative Money

Fiat moneyFiat money

11.9 11.9 Self Self Assessment Assessment questionsquestions

11 Define money and explain its main functionsDefine money and explain its main functions

2. Explain the various types of money and briefly mention their characteristics2. Explain the various types of money and briefly mention their characteristics

4.4. Distinguish between Distinguish between Convertible Convertible and inconvertible and inconvertible paper moneypaper money

5.5. What is Grasham’s lawWhat is Grasham’s law

11.10 11.10 Answers to Answers to check your check your progressprogress

1.1. false false 2. 2. False False 3 3 TrueTrue

11.11 Suggested Readings11.11 Suggested Readings

Ackley Gardner : Macro economic theoryAckley Gardner : Macro economic theory

Similer Documents