Question:

Justify the following statements with valid arguments: Money serves as a ‘store of value’ in an economy. The Central Bank acts as ‘Government’s Bank’ in an economy. (a) Money serves as a ‘store of value’ in an economy.

Show Hint

The ‘store of value’ function is critical for savings and investments in an economy.
Updated On: Jan 30, 2025
Hide Solution
collegedunia
Verified By Collegedunia

Solution and Explanation

Money is non-perishable and can be saved for future needs, unlike barter systems where goods may degrade. It facilitates long-term financial planning and investment by acting as a reliable medium for storing value.
Was this answer helpful?
0
0

Questions Asked in CBSE CLASS XII exam

View More Questions