Question
How does money act as a standard of deferred payment?
✓
Answer
Standard of Deferred Payments: Deferred payments refer to those payments which are to be made in future. Money is accepted as a standard of deferred payments because
(i) It possesses the quality of general acceptability.
(ii) Its value remains stable as compared to the values of commodities.
(iii) It is more durable as compared to other commodities.
(i) It possesses the quality of general acceptability.
(ii) Its value remains stable as compared to the values of commodities.
(iii) It is more durable as compared to other commodities.
Need a full question paper?
Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.
Explore more
Similar questions
Why do people deposit money in banks?###Why do we deposit money with commercial banks?
Mention two ways by which efficiency of labour can be improved.
State the difference between redeemable debt and irredeemable debt.
State any two differences between an entrepreneur and other factors of production.
Identify the market forms for the items given below:
(i) A single seller
(ii) Homogeneous goods
(iii) Product differentiation
(iv) A single buyer
(i) A single seller
(ii) Homogeneous goods
(iii) Product differentiation
(iv) A single buyer
Give the expanded form of COPRA and RTI. ### Give the full form of COPRA. How does it benefit consumers? ### Explain COPRA. What is its objective? ### What does COPRA stand for?
What is the difference between an entrepreneur and an organizer?
GST will lead to better tax compliance. Do you agree?
The following diagram shows the supply curve of three commodities. Rank their price elasticity.
Explain currency authority function of the Central Bank.###Give any two reasons for giving the monopoly right of not issue to the central bank.