NCERT Solutions for Class 12 Macro Economics Money

NCERT Solutions for Class 12 Macro Economics Money

NCERT Solutions for Class 12 Macro Economics Money is designed and prepared by the best teachers across India. All the important topics are covered in the exercises and each answer comes with a detailed explanation to help students understand concepts better. These NCERT solutions play a crucial role in your preparation for all exams conducted by the CBSE, including the JEE.

NCERT TEXTBOOK QUESTIONS SOLVED

1. Define Barter system.

Ans. Barter system of exchange is a system in which goods are exchanged for goods.

2. What is meant by double coincidence of wants?

Ans. Double coincidence of wants means that goods in possession of two different persons must be useful and needed by each other.

3. Define Money.

Ans. Money is something which is generally acceptable as a medium of exchange and can be converted into other assets without loosing its time and value.

4. What is the basic characteristic of money?

Ans. Durability and weight.

5. What is the legal definition of money?

Ans. Legally, money is anything proclaimed by law as a medium of exchange. Paper notes and coins (together called currency) is money as a matter of law.

6. Define money supply.[CBSE Foreign 2004, 2031]

Ans. The stock of money held by the public at a point of time, in an economy, is referred to as the money supply. Money supply is a stock concept.

7. What items are included in the M3 measure of money supply?

Ans. M3(currency notes and coins with public + demand deposits of commercial and co-operative banks + other deposits with RBI), Time deposits of all commercial and co-operative banks.

8. State two components of money supply. [CBSE Sample Paper 2010] Or
State the components of money supply. Or [CBSE 2010]
What is included in money supply?[CBSE 2010C, 2011]

Ans. Currency notes and coins with public + demand deposits with the banks.

9. Define demand deposits.[CBSE 2013, Set I, HOTS ]

Ans. Demand deposits are those deposit which can be withdrawn by the depositor at any time by means of cheque. No interest is paid on such deposits.

10. What are time deposits in banks?[AI 2013, C Set I]

Ans. Time deposits are the deposits which can not be withdrawn before the expiry of the stipulated time for which deposits are made. Fixed deposit is an example of time deposit.

11. State the components of supply of money. [AT 2013 Set I]

Ans. Coins and currency notes with public.
Demand deposits with banks.

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