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MONEY AND INFLATION — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsMONEY AND INFLATION3 Marks
Question
What is money?
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Answer

  • According to Marshall, “Money is that medium which is used as a means of exchange without any doubt or investigation regardless of time or place”.
  • Robertson defines money as “What is accepted universally in exchange of goods or services is money”.
  • Thus, that which performs the functions of money is called money.

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