Choose the given statement is true/false:

Transactions are made in money because it is easy to use.

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True

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answer is A.

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Detailed Solution

The above statement is true.
It is very easy to pay or make any transaction using money. Before, the money barter system or coins made of precious metals were used for transactions. In the barter system, there was a need for a double coincidence of wants. A person had to find somebody willing to sell him what he wanted, and the other person should be willing to buy what he wanted to sell. This was very inconvenient. The precious metals were very costly to mint and changed with a change in the ruler. This was also very inconvenient for the people. Money to use as currency made it convenient for people to buy or sell anything.

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