Chapter 11: Money Economics Solutions for Class 12 Commerce Economics OMTEX CLASSES

Chapter 11: Money

Economics Solutions for Class 12 Commerce Economics

OMTEX CLASSES

Fill in the blanks with appropriate alternatives given in the brackets.

Match the following:

State whether the following statements are true or false.

1.Metallic coins are easily portable than paper notes.

2.Token coins are coins whose face value is greater than their intrinsic value.

3.Money facilitates estimation of national income.

4.A cheque is a fiat money.

5.Money increases productivity of capital.

Define or explain the following concepts:

1.Barter system

2.Double coincidence of wants

3.Money

4.Near money

5.Limited legal tender

Give reasons or explain.

1)Money works as a store of value.

2)Any commodity cannot act as money.

3)Barter System had many difficulties.

4)Money is the basis of credit.

Distinguish between -

Commodity money and metallic money

Paper money and metallic coins

Full bodied money and token coins

Primary functions of money and Secondary functions of money.

Convertible paper money and inconvertible paper money

Write Short Notes.

1)Commodity money

2)Secondary function of money

3)Qualities of good money

Answer the following questions -

What are the contingent functions of money?

What are the different types of money?

State with reasons whether you agree or disagree with the following statements.

Barter System did not have any difficulty.

Anything can function as money.

Money performs various functions.

Answer in Detail: 

Explain primary, secondary and contingent functions of money.