Identify transactions involving money in our day-to-day life

cbse
economics
money-and-credit
cbse-class-10
cbse-class-10-social

#1

Identify transactions involving money in our day-to-day life.

Answer:
There are several transactions involving money in any single day.

  • In many of these transactions, goods are being bought and sold with the use of money. It eliminates the need for double coincidence of wants.
  • In some of these transactions, services are being exchanged with money.
  • For some, there might not be any actual transfer of money taking place now but a promise to pay money later.