what are the drawbacks of money

Asked by gurjinder1234g | 27th May, 2020, 06:17: AM

Expert Answer:

The drawbacks of money are:

  1. Hoarding - Instead of utilising the money for productive activities, people hoard the money. 
  2. Black money - Money provides people a convenient way to make transactions and evade taxes by concealing their income.
  3. Instability in the value of money - Too much of money reduces its value and causes inflation and vice versa. 
  4. Illegal activities - Money is the root cause of thefts, murders, frauds etc and this occurs due to the greed for having money

Answered by Christina | 27th May, 2020, 09:39: AM