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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion (A): Money is what money does.
Reason (R): Money facilitates exchange of goods and services.
- a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).
- b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).
- c)Assertion (A) is true but reason (R) is false.
- d)Assertion (A) is false but reason (R) is true.
Correct answer is option 'A'. Can you explain this answer?
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Directions: In the following questions, a statement of assertion (A) ...
Money is defined as anything that acts as a medium of exchange.
This question is part of UPSC exam. View all Commerce courses
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Directions: In the following questions, a statement of assertion (A) ...
Assertion (A): Money is what money does.
Reason (R): Money facilitates exchange of goods and services.
The correct answer is option A, which states that both the assertion (A) and the reason (R) are true, and the reason (R) is the correct explanation of the assertion (A).
Explanation:
Money is a medium of exchange that allows individuals to trade goods and services. It is a universally accepted medium for transactions and acts as a measure of value. In this context, the assertion (A) states that "Money is what money does." This means that money is defined by its functions and actions rather than its physical form. Money's value lies in its ability to perform certain functions, not in its physical characteristics.
The reason (R) provided is that "Money facilitates the exchange of goods and services." This is indeed a correct explanation of the assertion (A). Money serves as a medium of exchange, allowing individuals to trade goods and services without the need for direct barter. It acts as a common measure of value, making it easier to compare the worth of different goods and services. Money also serves as a store of value, allowing individuals to save and accumulate wealth over time.
Furthermore, money acts as a standard of deferred payment, enabling individuals to make transactions that involve promises of payment in the future. The use of money eliminates the inefficiencies and limitations of barter systems, where individuals have to find a mutual coincidence of wants to trade goods and services. Money provides the necessary liquidity and flexibility for economic transactions, promoting economic growth and development.
In summary, both the assertion (A) and the reason (R) are true. The reason (R) correctly explains the assertion (A) by highlighting the role of money in facilitating the exchange of goods and services. Money's functions and actions define its value and importance in an economy.
Reason (R): Money facilitates exchange of goods and services.
The correct answer is option A, which states that both the assertion (A) and the reason (R) are true, and the reason (R) is the correct explanation of the assertion (A).
Explanation:
Money is a medium of exchange that allows individuals to trade goods and services. It is a universally accepted medium for transactions and acts as a measure of value. In this context, the assertion (A) states that "Money is what money does." This means that money is defined by its functions and actions rather than its physical form. Money's value lies in its ability to perform certain functions, not in its physical characteristics.
The reason (R) provided is that "Money facilitates the exchange of goods and services." This is indeed a correct explanation of the assertion (A). Money serves as a medium of exchange, allowing individuals to trade goods and services without the need for direct barter. It acts as a common measure of value, making it easier to compare the worth of different goods and services. Money also serves as a store of value, allowing individuals to save and accumulate wealth over time.
Furthermore, money acts as a standard of deferred payment, enabling individuals to make transactions that involve promises of payment in the future. The use of money eliminates the inefficiencies and limitations of barter systems, where individuals have to find a mutual coincidence of wants to trade goods and services. Money provides the necessary liquidity and flexibility for economic transactions, promoting economic growth and development.
In summary, both the assertion (A) and the reason (R) are true. The reason (R) correctly explains the assertion (A) by highlighting the role of money in facilitating the exchange of goods and services. Money's functions and actions define its value and importance in an economy.
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Money is what money does.Reason (R): Money facilitates exchange of goods and services.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'A'. Can you explain this answer?
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Money is what money does.Reason (R): Money facilitates exchange of goods and services.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Money is what money does.Reason (R): Money facilitates exchange of goods and services.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Money is what money does.Reason (R): Money facilitates exchange of goods and services.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'A'. Can you explain this answer?.
Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Money is what money does.Reason (R): Money facilitates exchange of goods and services.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Money is what money does.Reason (R): Money facilitates exchange of goods and services.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Money is what money does.Reason (R): Money facilitates exchange of goods and services.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'A'. Can you explain this answer?.
Solutions for Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Money is what money does.Reason (R): Money facilitates exchange of goods and services.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
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