Money
Chapter 4: Chapter 4 · ECONOMICS · EN medium
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. . Meaning Money is anything that is generally accepted as payment for goods and services and repayment of debts and that serves as a medium of exchange. A medium of exchange is anything that is widely accepted as a means of payments. In recent years, the importance of credit has increased in all the countries of the world. Credit instruments are used on an extensive scale. The use of cheques, bills of exchange, etc. has gone up. It should however, be remembered that money is the basis of credit. Monetary Economics
📖 Class 12 Economics English Medium 2024 Edition www.tntextbooks.in · Page 82
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. . Meaning Money is anything that is generally accepted as payment for goods and services and repayment of debts and that serves as a medium of exchange. A medium of exchange is anything that is widely accepted as a means of payments.
In recent years, the importance of credit has increased in all the countries of the world. Credit instruments are used on an extensive scale. The use of cheques, bills of exchange, etc. has gone up.
It should however, be remembered that money is the basis of credit. Monetary Economics
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