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Social Science · 2023 · 2 marks
CBSE 2023 · Region 2 · Set 3 · Q24
How does the use of money make it easier to exchange things? Explain with examples.
How does the use of money make it easier to exchange things? Explain with examples.
Marking-scheme solution
(i) Money acts as an intermediate in the exchange process.
(ii) Money is also authorised by the government of the country. And no one can refuse it in the settling of transaction in India.
(iii) No individuals or organistaion is allowed to issue currency except the authorised authority. Example- RBI in India.
(iv) Money by providing the crucial intermediate step, eliminates the need for double coincidence of wants.
(can also be considered.
CBSE Class 10 Social Science past-paper question from the 2023 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.