✓ Board-verified↻ asked 3×
Economics · 2024 · 1 mark
CBSE 2024 · Region 2 · Set 1 · Q6
Read the following statements carefully :Statement $\displaystyle 1$ : Money is a commodity which is generally accepted as a medium of exchange.Statement $\displaystyle 2$ : Money solved the problem of double coincidence of wants.In the light of the given statements, choose the correct alternative from the following :
Official answer
From CBSE’s own marking scheme for this paper.
(C)
Both statements $\displaystyle 1$ and $\displaystyle 2$ are true.
Marking-scheme solution
(C)
Both statements $\displaystyle 1$ and $\displaystyle 2$ are true.
More from Money and Banking
- Suppose, for a hypothetical economy, Reserve Ratio (RR) decreases from 25% to 20%, the total deposits would…2026 · asked 3×
- releases data of money supply in India. (Choose the correct option to fill in the blank)2025 · asked 3×
- Central Bank can decrease the money supply in the economy by. (Choose the correct option to fill in the blank)2025 · asked 3×
- Identify, that function of money, which has effectively solved the problem of ‘double coincidence of wants’…2026 · asked 3×
- Read the following passage carefully: “The Reserve Bank of India (RBI) Governor announced a 50 basis points…2026 · asked 3×
- Suppose, a banking system received primary deposits of ₹ 1,000 and as a result commercial banks created…2026 · asked 3×
- “Open market operations by Reserve Bank of India (RBI) help in regulating money supply in the economy.”…2024 · asked 3×
- Sumit deposited ₹ 10 lakh in his savings account. The deposits made by him is a part of in the M 1 measure of…2026 · asked 3×
CBSE Class 12 Economics past-paper question from the 2024board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.