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explain the importance of money

Asked by siddharthamohan5 3rd May 2020, 4:28 PM
Answered by Expert
The introduction of money helped to overcome the difficulties faced under the barter system of exchange. The importance of money can be understood by the functions it performs:
1. Money acts as a medium of exchange.
2. Money helps to measure the value of goods and services
3. Money plays an important role in lending and borrowing
4. Money acts as a store of value. Income can be be used for consumption and remaning can be saved for future use.
Answered by Expert 4th May 2020, 8:33 AM
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