Choose the given statement is True/False

Modern forms of money include silver coins and gold coins.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

True

False

answer is B.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

The given statement is false.
Currency in the modern era comes from coins and paper notes. Modern cash is not constructed of precious metals like gold, silver, or copper, unlike the items that were once utilised as payment. In the past, gold, silver, and copper coins were used as currency. However, since paper money and coins are legal forms of payment that can be used anywhere in the nation, they serve as a medium of trade. Additionally, this kind of currency is portable, dividable, has a unit of account, and a standard of payment.
The correct statement is that modern forms of money include currency and paper notes.

Watch 3-min video & get full concept clarity