What comes under the classification of money? |
Credit money Representative full bodied money Full bodied money All of the above |
All of the above |
Money can be classified under 3 heads: Full bodied money: Whose face value is equal to the intrinsic value. Example: gold coins Representative full bodied money: Whose face value is greater than the intrinsic value. Example: paper money Credit money: Whose value for monetary purpose is greater than its value for non-monetary purposes. For examples: token coins |