Which one of the following is not a modem form of money?a)Currencyb)Paper notesc)Coinsd)GoldCorrect answer is option 'D'. Can you explain this answer?

Question

Answer

*Modern forms of money include currency — paper notes and coins.

*Unlike the things that were used as money earlier, modern currency is not made of precious metals such as gold, silver, and copper.

* Hence option' D' is correct

Answer

Let's travel back to Ashok's or Maurya Empire using Time stone. You will see that money was made up of precious metals such as Gold and Silver. There was a time when cattles and livestocks were considered as money. Now, let's come back to the modern world. Instead of using precious metals for money, paper notes and coins are used.

Hence, the correct answer is (D) Gold.

Answer

Modern form of money consists of currency paper notes and coins. Unlike earlier times when gold and silver coins were used  as a medium of exchange and barter system used to prevail , nowadays all such medium of exchanges do not exist. Modern form of money includes currency , paper notes and coins which are used by people all over the world and are a comfortable and easy means of exchange.

Answer

Explanation:

Money is a medium of exchange that is widely accepted in transactions for goods and services. It is a basic economic concept that has evolved over time. Money can take different forms, including:

Currency: This is the most common form of money. It is issued by central banks and is used as a medium of exchange in transactions.

Paper notes: These are paper bills that are issued by central banks. They are used as a medium of exchange in transactions.

Coins: These are metal or plastic tokens that are issued by central banks. They are used as a medium of exchange in transactions.

Gold: Gold has been used as a form of money for centuries. It is a valuable metal that is widely accepted in transactions.

Answer:

The correct answer is D. Gold is not a modern form of money because it is not widely accepted in transactions. While gold has been used as a form of money in the past, it is not commonly used today. Instead, people use currency, paper notes, and coins as forms of money. These forms of money are more convenient and easier to use in transactions.

Answer

Gold was once a form of money only during the olden days where barter system took place. But in the modern world paper notes, currency and coins are the forms of money..

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