Which is called near money?

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Which is called near money?

Answer: The static functions of money are:

whatever serves society in four functions: as a medium of exchange, a store of value, a unit of account, and a standard of deferred payment.

Q. What are the 3 functions of money?

To summarize, money has taken many forms through the ages, but money consistently has three functions: store of value, unit of account, and medium of exchange. Modern economies use fiat money-money that is neither a commodity nor represented or “backed” by a commodity.

Q. Why is money and banking important?

Banks serve as the principal caretaker of the economy’s money supply and, along with other financial intermediaries, provide an important source of funds for consumers and businesses. The financial markets in money, banking, and financial markets refer to the markets in which financial assets can be traded.

Q. What are the uses of money class 10?

  • Money works as a medium of exchange.
  • It helps to measure the value of a good or service.
  • Money plays an important role in lending and borrowing.
  • A person can store the purchasing power of money.

Near money is a term in financial economics, describing highly liquid non-cash assets that are easily convertible into cash. Also, nearmoney can be called quasimoney or cash equivalents./span>

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