Assertion : Barter system has limitation of double coincidence of wants.
Reason: Money removes the problem of double coincidence of wants.
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Which one of the following statements is most appropriate regarding transaction made in money?
Assertion: Money act as a medium of exchange.
Reason: Law legalizes the use of money as a medium of exchange.
Assertion: Demand Deposits in the bank are a form of money.
Reason: People have the provision to withdraw them as and when required.
Which among the following authorities issues currency notes on behalf of the government?
Assertion: The modern currency is without any use of its own.
Reason: Money in India is printed and circulated by RBI.
139 videos|315 docs|136 tests
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139 videos|315 docs|136 tests
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