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Defining GDP

Money has onl...

Question

Money has only _ while it has no _.

A

Value-in-exchange, Value-in-use

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B

Value-in-use, Value-in-exchange

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C

Use, utility

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D

None of the above

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Solution

The correct option is A Value-in-exchange, Value-in-use
Money has value in exchange but not value in use. Value in exchange is nothing but the goods and services which we may obtain in the market in exchange of a particular thing. Value in use is nothing but the satisfaction which one obtains from the use of a commodity for example water.

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