Which amongst the following is the correct definition of MONEY? [1]
A. Any good which is commonly used as a store of value.
B. Any good which is exchanged for gold at a fixed rate.
C. Any good which is acceptable to a bank.
D. Any good which is commonly accepted as a medium of exchange.
Answer:D
Which amongst the following is the correct definition of MONEY? [1]
A. Any good which is commonly used as a store of value. B. Any good which is exchanged for gold at a fixed rate. C. Any good which is acceptable to a bank. D. Any good which is commonly accepted as a medium of exchange.