The correct answer is Option (2) → (A), (C), (B), (D)
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Barter System (A): This is the most primitive and oldest form of exchange, where goods and services are directly swapped for other goods and services without any medium of exchange.
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Precious metals (C): As economies grew, the inefficiencies of barter led to the use of commodity money. Precious metals like gold and silver, due to their intrinsic value, durability, divisibility, and portability, became widely accepted as a medium of exchange. This phase came after the pure barter system.
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Currency notes (B): The advent of paper money, initially as representative money (backed by precious metals) and later as fiat money (value by government decree), marked a significant advancement. This system developed with the rise of banking institutions and centralized states, following the era where metals were the primary form of currency.
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Online transfer of money (D): This represents the most recent technological advancement in monetary systems, involving electronic transfers of funds through digital platforms. This relies on modern computing and internet infrastructure, emerging long after physical currency notes became common.
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