WebDec 7, 2024 · Money serves as the standard of deferred payment or units in which future or deferred payments are made. This function applies to interests, rents, salaries, pensions, insurance premium etc. The lending and borrowing acts are easily expressed in money. Due to the qualities of stability in value, general acceptability and durability, money is ... WebFeb 6, 2024 · One important contingent function of money is that it helps distribute national income. National income is the sum of all income (wages, salaries, profits, rent, and interest) earned by individuals and businesses within a country in a given period.
What Are The Contingent Functions of Money - Meritnation
WebVerified by Toppr. Money is any good that is widely used and accepted in transactions involving the transfer of goods and services from one person to another. Functions of money: (i) Act as a medium of exchange. (ii) Act as a legal tender for repayment of debt. (iii) As a standard of value. (iv) As a unit of accounting measure. WebSep 9, 2024 · Contingent Functions: Besides the above functions of money, there are other functions of money, like it helps to measure National Income. it forms the basis of credit. it imparts liquidity to wealth. it helps to estimate macroeconomic variables. Question 4. Money can be sent anywhere through electronic means. Answer: Yes, I do agree with … scooty bike for sale
Function of money
WebApr 11, 2024 · The use of contingent workers is on the rise. A 2024 study by Success Factors and Oxford Economics found 83 percent of executives are using a contingent workforce, which includes part-time workers or consultants. Working with these types of professionals requires changes to training, technology, and compensation plans. WebDec 26, 2013 · Primary functions of money. #P1: As a medium of exchange. #P2: As a measure of value. Secondary Functions / Derivative functions. #S1: As a store of value. #S2: Transfer of Value / Purchasing Power. Transfer of Value in Bitcoin System. Transfer of Value: NEFT vs RTGS vs Bitcoin. #S3: as a standard of deferred payment. WebThe contingent functions of money includes the following :- 1. Distribution of national income: Money helps in optimum distribution of national income among different … scooty best 2022