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Q.

Choose the given statement is true/false:

The use of money act as a method of exchange.

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a

True

b

False

answer is A.

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Detailed Solution

The above statement is true.
Due to its role as an intermediary in trade and transaction processes, money serves as a medium of exchange. If someone has money, they may readily swap it for any good or service they require. As the Indian government has legalised the money, it is acknowledged as a means of trade. Money serves as a means of exchange since it may be used to buy or sell any product because its market value is already established in terms of money. A tool employed as a middleman to enable the sale, purchase, or exchange of products between parties is known as a “medium of exchange.”

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