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explain the importance of money

Asked by siddharthamohan5 3rd May 2020, 4:28 PM
Answered by Expert
Answer:
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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