Money gradually changes from a medium of exchange to an important intermediate.Justify by giving five arguments.
It is true that money gradually changes from a medium of exchange to an important intermediate.
a. Today, money acts as an important intermediate to remove the inconvenience in trading.
b. Trading which includes buying and selling of products has become global with the use of money.
c. Money removes the difficulties that were existent in the barter system.
d. Money is authorised by the government and nobody can legally refuse to use it as a medium of exchange.
e. all monetary transactions take place with the help of money making it uniform.
a. Today, money acts as an important intermediate to remove the inconvenience in trading.
b. Trading which includes buying and selling of products has become global with the use of money.
c. Money removes the difficulties that were existent in the barter system.
d. Money is authorised by the government and nobody can legally refuse to use it as a medium of exchange.
e. all monetary transactions take place with the help of money making it uniform.