Functions of Money

Explain the significance of the medium of exchange function of money.

Explain the store of value function of money.

Explain the 'unit of account' function of money. How has it solved the related problem created by barter?

Explain the store of value function of money. How has it solved the related problem created by barter?

OR

Explain the significance of the store of value function of money.

Discuss the limitations of Barter Exchange.

Demand deposits are equal to cash deposits of the people with the Commercial Banks.

What is meant by double coincidence of wants?

Define money. List its components.

Explain "difficulty in storing wealth" problem faced in the barter system of exchange.

State the limitations of Barter Exchange.

Give the meaning of: (i) Barter Exchange; (ii) Money; (iii) Money Supply.

What is the basic characteristic of money?

Define money.

Define barter exchange.

In India, paper notes are:

If you have $2$ meters cloth and you want wheat against it, then how much wheat you should get. Which drawback of Barter Exchange is highlighted? 

If Harish has a mobile and he wants a tabet. Shivam has a laptop and he wants a mobile in exchange of laptop, than what problem Harish and Shivam are facing.

Which of the following is not a problem of barter system of exchange?

Read the following dialogue between two people:

Sita: I want $1$ kg of potatoes.

Rani: What will you give in exchange?

Sita: I can give you $2$ litres of milk in return for the potatoes.

Rani: I don't need milk, I want a pair of shoe.

Which of the following problem is being faced by Sita and Rani in their exchange process?

Which one of these is a limitation of the barter exchange?