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Question
In the late 1920s, people travelling to distant lands could easily pay later, and they did not have to carry coins with them.
Which of the following were issued by governments as written documents that were used to facilitate long distance transactions?
In the late 1920s, people travelling to distant lands could easily pay later, and they did not have to carry coins with them.
Which of the following were issued by governments as written documents that were used to facilitate long distance transactions?
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Solution
The correct option is D Promissory notes
Over a period of time, the concept of written documents was adopted by the governments. Governments across the world started issuing such documents that were called promissory notes. These enabled long distance transactions since they were easily transferable.
Like coins, the promissory notes also gave people the power to purchase goods and services from one another without any obstacles.
Over a period of time, the concept of written documents was adopted by the governments. Governments across the world started issuing such documents that were called promissory notes. These enabled long distance transactions since they were easily transferable.
Like coins, the promissory notes also gave people the power to purchase goods and services from one another without any obstacles.
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