Concentrate on any valid definition of money to answer the following scenarios logically; a. If you have 20 notes of prize bonds, each has the worth of Rs. 1500/- , can we term these prize bonds as money? If YES then how, and if NO then why? If you regularly purchase Pepsi for that you pay Rs. 100 per bottle. After taking the drink out of that, if you have 50 empty bottles at your home now, can we term these bottles as money as because you have spent money for these too? If yes then how and if no then why? c. If you have the currency note of Rs. 5 in your pocket which was used in the past. Can we say that this is money today too? If yes then how and if no then why?
Concentrate on any valid definition of money to answer the following scenarios logically; a. If you have 20 notes of prize bonds, each has the worth of Rs. 1500/- , can we term these prize bonds as money? If YES then how, and if NO then why? If you regularly purchase Pepsi for that you pay Rs. 100 per bottle. After taking the drink out of that, if you have 50 empty bottles at your home now, can we term these bottles as money as because you have spent money for these too? If yes then how and if no then why? c. If you have the currency note of Rs. 5 in your pocket which was used in the past. Can we say that this is money today too? If yes then how and if no then why?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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II. Concentrate on any valid definition of money to answer the following scenarios logically;
a. If you have 20 notes of prize bonds, each has the worth of Rs. 1500/- , can we term these prize bonds as money? If YES then how, and if NO then why?
If you regularly purchase Pepsi for that you pay Rs. 100 per bottle. After taking the drink out of that, if you have 50 empty bottles at your home now, can we term these bottles as money as because you have spent money for these too? If yes then how and if no then why?
c. If you have the currency note of Rs. 5 in your pocket which was used in the past. Can we say that this is money today too? If yes then how and if no then why?
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