In Class XII Economics (Introductory Macroeconomics), Chapter 3 focuses on “Money and Banking.” This chapter delves into the fundamental concepts surrounding money, its functions, types, and the role of banking in the economy. Students will explore the significance of money as a medium of exchange, unit of account, and store of value. Additionally, the chapter covers various forms of money, such as fiat money and commodity money, and their evolution over time. Furthermore, it elucidates the role of banks in the economy, including their functions, types, and the fractional reserve system. Understanding this chapter is crucial for comprehending the mechanisms that facilitate economic transactions and the functioning of financial institutions in an economy.
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Notes Class XII Economics (Introductory Macroeconomics) Chapter 3 Money And Banking
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In Class XII Economics (Introductory Macroeconomics), Chapter 3 focuses on “Money and Banking.” This chapter delves into the fundamental concepts surrounding money, its functions, types, and the role of banking in the economy.
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