44. METALLIC MONEY
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PAPER MONEY
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1.
Meaning
It
refers to the money which is made of metals like gold, silver, etc.
2.
Life
They
are more durable and as such have a long life
3.
Convenience
Metallic coins are not very
convenient as they are heavy and there is difficulty in counting.
4.
Suitability
They are more suitable for small
transactions.
5.
Transferability
These
are difficult to transfer from one place to another.
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It refers to that money which is in form
of paper currency notes issued by Government.
They are less durable and as such they
have a short life
Paper money is more convenient as they
are light and easy to count.
They are suitable for larger
transactions.
These are easy to transfer from one place
to another.
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