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Match the following:Group A 1) Near Money 2) Secondary function of money 3) Commodity Money 4) Barter 5) Legal tender Group B a) Sea Shells b) Double coincidence of wants c) Fiat money d) Measure of value e) Bills of exchange f) Standard of deferred payments g) Metalic money. |
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Answer» Money - e) Bills of exchangeNear money are used as bill of exchange as they provide all the major FUNCTION of actual money.2) Secondary function of money - f) Standard of deferred paymentsStandard of conceded INSTALMENTS is considered as AUXILIARY capacity of cash.3) Commodity Money - b) Double coincidence of wants The commodity money can be either used as commodity or as money as per the requirement. Hence it is considered as double coincidence of wants.4) Barter - a) Sea Shells Shells were used as money to buy commodities by Chinese people.5) Legal tender - C) Fiat money Fiat cash is money that a legislature has announced to be legitimate delicate, HOWEVER it isn't supported by a physical product. |
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