Read the following statements carefully:
Statement 1: Money is a commodity which is generally accepted as a medium of exchange.
Statement 2: Money solved the problem of double coincidence of wants.
Read the following statements carefully:
Statement 1: Money is a commodity which is generally accepted as a medium of exchange.
Statement 2: Money solved the problem of double coincidence of wants.
Show Hint
- Statement 1 is true and Statement 2 is false.
- Statement 1 is false and Statement 2 is true.
- Both statements 1 and 2 are true.
- Both statements 1 and 2 are false.
The Correct Option is C
Solution and Explanation
Statement 1: Money is universally accepted as a medium of exchange, which makes it a key feature in economic transactions.
Statement 2: Money overcomes the limitation of barter systems, including the problem of double coincidence of wants, by allowing indirect exchanges.
Top Questions on Debts
For a hypothetical economy, assume the government increased infrastructural investment by ₹10,000 crore. 80% of additional income is consumed in the economy. Estimate the increase in income and the corresponding increase in consumption expenditure in the economy.
Discuss any two factors that lead to stagnating Indian agriculture sector during British rule.
On the basis of the data given below, discuss the shift in output and employment sector-wise, in India and China: \begin{center}
Interpret the given picture and explain any one strategy to control it from becoming an ecological disaster.
“Micro-credit programmes have helped to fill in the gaps in the formal credit system.”
Justify the given statement.
Questions Asked in CBSE CLASS XII exam
The correct IUPAC name of \([ \text{Pt}(\text{NH}_3)_2\text{Cl}_2 ]^{2+} \) is:
- CBSE CLASS XII - 2025
- Coordination Compounds
- A 1 cm segment of a wire lying along the x-axis carries a current of 0.5 A along the \( +x \)-direction. A magnetic field \( \mathbf{B} = (0.4 \, \text{mT}) \hat{j + (0.6 \, \text{mT}) \hat{k} \) is switched on in the region. The force acting on the segment is:}
- CBSE CLASS XII - 2025
- Magnetic Effects of Current and Magnetism
- Using integration, find the area of the region bounded by the line \[ y = 5x + 2, \] the \( x \)-axis, and the ordinates \( x = -2 \) and \( x = 2 \).
- CBSE CLASS XII - 2025
- Evaluation of Definite Integrals by Substitution
- Two conductors A and B of the same material have their lengths in the ratio 1:2 and radii in the ratio 2:3. If they are connected in parallel across a battery, the ratio \( \frac{v_A}{v_B} \) of the drift velocities of electrons in them will be:
- CBSE CLASS XII - 2025
- Current electricity
- Arun, Bashir and Joseph were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They admitted Daksh as a new partner who acquired his share entirely from Arun. If Arun sacrificed \( \frac{1}{5} \)th from his share to Daksh, Daksh's share in the profits of the firm will be :
- CBSE CLASS XII - 2025
- Partnership Accounts