ICSE Class 10 Answered
What
are the two primary functions of money? Give the meaning of each.
Asked by Topperlearning User | 24 Apr, 2015, 07:31: AM
Expert Answer
Medium of exchange and measure of value are the two primary functions of money.
- Money acts as a medium of exchange. The major function of money is to facilitate the process of exchange by removing the defects of the barter system.
- Money is the measure of value. It is the monetary expression of the market value of goods and services.
Answered by | 24 Apr, 2015, 09:31: AM
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