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.