Money ( Part-1)

These short videos are prepared by me for easy recall of day's lesson taught to my students.

CONCEPTS

-    Money is a medium of exchange, which is used to measure value of goods as a standard of deferred payments and also to store a value

-    Barter system means exchange of one commodity for another. It is also called C-C economy.

-    Double coincidence of wants is necessary for barter system to work

-    Lack of double coincidence of wants made barter economy fail