Explain how the continued evolution of money has increased economic efficiency.
Explain how the continued evolution of money has increased economic efficiency.
Homework Answers
Ans. Over the years , money have evolved from commodity money , metallic money to paper money to bank money. The evolution of money have helped us in reducing the drawbacks that were prevalent in the earlier Staten is barter system. As the volume of transaction increased , paper money is now being replaced by online money and this continues to be evolved with the recent developments in crypto currency . All this evolution have helped in making the transactions easy and efficient which inturn have helped in increasing economic efficiency.
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Explain how the continued evolution of money has increased
economic efficiency.
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