If economic agents engage themselves in market transactions, then which of the following instrument will be important to facilitate these exchanges? |
Books of accounts Money Commodities which are widely used None of the above |
Money |
If an individual is living in an isolated land and do not take part in any economic transaction then money has no function to them. Money will be of no use as no economic transactions are being taken place. But, if economic agents engage themselves in market transactions, then money becomes an important instrument to facilitate these changes. |