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How does money act as a standard of deferred payment? 

Asked by Topperlearning User 24th April 2015, 7:31 AM
Answered by Expert
Answer:

Deferred payments refer to those payments which are made in the future. Money has made deferred payments easier. When money is borrowed, the principal and interest amounts have to be returned to the lender. However, these transactions are not possible in terms of goods and services. Money performs this function more effectively.

Answered by Expert 24th April 2015, 9:31 AM
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