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Social Science · 2023 · 3 marks
CBSE 2023 · Region 6 · Set 2 · Q27
The use of money spans a very large part of our everyday life. "Support the statement with example. \[1 \times 3=3 \]
Marking-scheme solution
(i) Money as a medium of exchange to facilitate transactions.
(ii) Money effectively eliminates the double coincidence of wants problem by serving as a medium of exchange
(iii) Money is accepted in all transactionsby all regardless of any goods and services.
(iv) Money is valuable in exchange
(v) It creates credit and allows transactions to be settled in the future.
(vi) Money can be used as a universal unit of account to measure the value of all the goods and services exchanged in an economy.
CBSE Class 10 Social Science past-paper question from the 2023board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.