10 Questions MCQ Test Indian Economy for UPSC CSE - Test: Money & Credit - 1
Test: Money & Credit - 1 for UPSC 2024 is part of Indian Economy for UPSC CSE preparation. The Test: Money & Credit - 1 questions and answers have been
prepared according to the UPSC exam syllabus.The Test: Money & Credit - 1 MCQs are made for UPSC 2024 Exam. Find important
definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Money & Credit - 1 below.
Solutions of Test: Money & Credit - 1 questions in English are available as part of our Indian Economy for UPSC CSE for UPSC & Test: Money & Credit - 1 solutions in
Hindi for Indian Economy for UPSC CSE course. Download more important topics, notes, lectures and mock
test series for UPSC Exam by signing up for free. Attempt Test: Money & Credit - 1 | 10 questions in 10 minutes | Mock test for UPSC preparation | Free important questions MCQ to study Indian Economy for UPSC CSE for UPSC Exam | Download free PDF with solutions
The coincidence of wants (often known as double coincidence of wants) is an economic phenomenon where two parties, each hold an item the other wants, so they exchange these items directly without any monetary medium.
We know that in barter system there is a coincident to get a person who want a thing in exchange of what whereas the modern form of money is required by all for the simple exchange between two peoples done for the goods and money as money is required by all for getting goods what they want in exchange of money ,money plays an important role to remove that double coincidence of want such as in barter system.
Money serves four basic functions: it is a unit of account, it's a store of value, it is a medium of exchange and finally, it is a standard of deferred payment.We consider money as a measure of currency.
Money helps to facilitate trade because people in the economy generally recognize it as valuable. Money is called medium of exchange because money is a widely accepted token that can be used for exchange of any good or service and law legalizes the use of money as a medium of exchange so this is the correct reason.
There are many substitute to cash and cheques. Credit card: Cash paid to the bank after using it in advance through credit card. Debit Cards: Prepaid card used to transfer money but to limited amount with very low fees and reliable way.
The modern currency is without any use of its own because it is not made of precious metals such as gold or silver but included paper notes or coins. It is actually used as a medium of exchange in order to buy or sell something. so reason given is incorrect that Money in India is printed and circulated by RBI.
In this test you can find the Exam questions for Test: Money & Credit - 1 solved & explained in the simplest way possible.
Besides giving Questions and answers for Test: Money & Credit - 1, EduRev gives you an ample number of Online tests for practice
Find all the important questions for Money & Credit - 1 at EduRev.Get fully prepared for Money & Credit - 1 with EduRev's comprehensive question bank and test resources.
Our platform offers a diverse range of question papers covering various topics within the Money & Credit - 1 syllabus.
Whether you need to review specific subjects or assess your overall readiness, EduRev has you covered.
The questions are designed to challenge you and help you gain confidence in tackling the actual exam.
Maximize your chances of success by utilizing EduRev's extensive collection of Money & Credit - 1 resources.
Money & Credit - 1 MCQs with Answers
Prepare for the Money & Credit - 1 within the UPSC exam with comprehensive MCQs and answers at EduRev.
Our platform offers a wide range of practice papers, question papers, and mock tests to familiarize you with the exam pattern and syllabus.
Access the best books, study materials, and notes curated by toppers to enhance your preparation.
Stay updated with the exam date and receive expert preparation tips and paper analysis.
Visit EduRev's official website today and access a wealth of videos and coaching resources to excel in your exam.
Online Tests for Money & Credit - 1 Indian Economy for UPSC CSE
Practice with a wide array of question papers that follow the exam pattern and syllabus.
Our platform offers a user-friendly interface, allowing you to track your progress and identify areas for improvement.
Access detailed solutions and explanations for each test to enhance your understanding of concepts.
With EduRev's Online Tests, you can build confidence, boost your performance, and ace Money & Credit - 1 with ease.
Join thousands of successful students who have benefited from our trusted online resources.