alleryThe function of money by which it is universally accepted in exchange for goods and services is the:
Astandard of deferred payment
Bmedium of exchange
Cstore of value
Dunit of account
Answer & Solution
Correct answer: B. medium of exchange
Medium of exchange: money is accepted for all goods and services.
Keep practising Economic Development & Banking
Browse all Economic Development & Banking questions for Maharashtra SSC (Class 10), or explore more Social Science topics.
Related questions
A family of five works all year on two hectares where two would do. This is called?Underemployment occurs when people are doing what?More than half of India's workers are in the primary sector. About what share of GVA do thBy about how many times did service sector production rise over the forty years?Why did employment not shift out of agriculture as GVA share did?Why do some people work as small shopkeepers or repair persons?Rising incomes raise demand for which services?How does growth of farming and industry help the service sector?