CBSE Class 10 - Economics - Chapter 3 - Money and Credit (Short Q and A)

Money and Credit




Short Question and Answers based on NCERT Chapter


Q1: Define money?

Answer: It is defined as medium of exchange.


Q2: What does money serve?

Answer: Money serves as :
a. a unit of accounting
b. a store of value or purchasing power
c. a standard of deferred payment


Q3: What is Double Coincidence of Wants?

Answer: It refers to a situation wherein what a person