MP Board · Class 10 · Social Science · Economics: Money and CreditWhich of the following shares the essential features of money and is widely accepted as a medium of exchange?
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Step-by-Step Solution
A cheque is a paper instructing the bank to pay a specific amount from the person's account to the person in whose name the cheque has been issued, thus sharing essential features of money.
Detailed Options Breakdown
Option : Promissory note
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Economics: Money and Credit.
Option 1: Cheque (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 2: Passbook
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Economics: Money and Credit.
Option 3: Debit card slip
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Economics: Money and Credit.
💡 Study Guide: This question tests core syllabus concepts from Economics: Money and Credit. For formulas, key summaries, and mock exam reference guides, read the full Economics: Money and Credit Revision Notes.