MONEY AND INFLATION — Economics STD 12 Commerce — Question
Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsMONEY AND INFLATION2 Marks
Question
Explain money as a measure of value.
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Answer
Money serves as a common denominator to measure the value of all goods and services. In a barter system, it was difficult to remember exchange rates between multiple goods. Money simplifies this by providing a price for every commodity, making calculation and comparison of values easy.
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