Prepared by Mrs Anindita Chakravarty Assistant Professor Dept of Economics Silapathar College Dear students in this PPT we will focus on the meaning of money and its evolution However students even though some of the traditional and tribal communities practice barter even today but there ID: 1027306
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1. MACRO-ECONOMICSMONEY AND BANKINGPrepared by-Mrs Anindita ChakravartyAssistant Professor( Dept of Economics) Silapathar College
2. Dear students, in this PPT we will focus on the meaning of money and its evolution
3. However students, even though some of the traditional and tribal communities practice barter even today, but there are certain drawbacks of the system that needs to be highlighted. Lack of Double Coincidence of WantsLack of Common Measure of ValueProblem of Future PaymentsProblem of Store of Value Let us discuss one by one
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8. Due to such drawbacks of the barter system the process of exchange becomes highly inefficient.To overcome such difficulties, money was invented . Economists hold different opinions regarding the definition of money such as Legal definition Functional definitionNarrow and Broad definition
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10. Dear students, this was all about the topic of today’s discussion..I hope you can understand whatever I tried to express in the slides.. For your better understanding please go through your text-books and reference books. Now I would like to provide some assignments to you related to the topic..I’m quiet sure that you all would complete the assignment. Thank You..
11. Assignmet ( m denotes marks carried by the questions)Define Barter System? 1mMention the drawbacks of Barter System. 2mWhat do you mean by double co-incidence of wants? 2mExplain how barter system lacks a common measure of value? 2mExplain: 2+2=4mProblem of store of value in barter systemProblem of future payments in barter systemState the legal definition of money. 1mState the functional definition of money. 1mWrite one difference between narrow and broad definition of money. 1m