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Old Forms of Money

With the appe...

Question

With the appearance of paper money, the most desired quality of metal coins was .

A

durability

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B

aesthetics

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C

portability

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D

availability

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Solution

The correct option is A durability
With the appearance of paper money, durability became the most desired quality for coins since they were frequently circulated and hence had to withstand constant use.

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Q. Fill in the blanks with appropriate alternatives given in the brackets.
1) Medium of exchange is __________ function of money. (primary/secondary/contingent/ additional)
2) In the case of __________ coins, intrinsic value is less than their face value. (token/full bodied/representative/standard)
3) The most liquid asset is __________. (cheque/money/shares/debentures)
4) Introduction of __________ removed difficulties of barter. (metals/bank/money/shares)
5) In the initial stage of development, __________ was used. (credit money /paper notes/ metallic coins/commodity money)

Q. Distinguish between 'Paper money and Metallic coins'.

Q. Distinguish between -

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Q. State whether the following statements are true or false.
1. Metallic coins are easily portable than paper notes.
2. Token coins are coins whose face value is greater than their intrinsic value.
3. Money facilitates estimation of national income.
4. A cheque is a fiat money.
5. Money increases productivity of capital.

Standard money consisting of paper currency notes and coins is called

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