12th Grade > Economics - 2
UNDERSTANDING MONEY MCQs
Total Questions : 29
| Page 2 of 3 pages
Answer: Option D. -> All of the above
:
D
All of the above are advantages of using electronic money.
:
D
All of the above are advantages of using electronic money.
Answer: Option D. -> both (a) and (c)
:
D
Money has both separated the acts of purchase and sale, and expanded their scope.
:
D
Money has both separated the acts of purchase and sale, and expanded their scope.
Answer: Option C. -> Durability
:
C
To be used as change, coins need to be durable.
:
C
To be used as change, coins need to be durable.
Answer: Option B. -> False
:
B
Paper money has no intrinsic value- it is just paper! It has representative value instead!
:
B
Paper money has no intrinsic value- it is just paper! It has representative value instead!
Answer: Option D. -> Reserve Bank of India
:
D
The Reserve Bank of India is India’s central bank.
:
D
The Reserve Bank of India is India’s central bank.
:
Monetary mass refers to the set of notes and coins in circulation.
:
Sanitation refers to the process by which old and worn out notes are replaced by new ones in the economy.
Answer: Option D. -> Any good which is commonly accepted as a medium of exchange
:
D
Any commodity that is accepted as a medium of exchange is money.
:
D
Any commodity that is accepted as a medium of exchange is money.
Answer: Option D. -> Both (b) and (c)
:
D
Money must serve as a measure of value and a medium of exchange.
:
D
Money must serve as a measure of value and a medium of exchange.
Answer: Option B. -> False
:
B
Money must have limited quantities of supply in order to maintain its value.
:
B
Money must have limited quantities of supply in order to maintain its value.
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