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- Paper money is so known as fiat money and determined only through supply and demand.
- BANK
- Debit card,credit card are examples of Representative money.
- Unlike Physical money, cryptocurrencies are decentralized, which means not issued by governments or other financial institutions.
- Paper money is a country's official, paper currency that is circulated for the transactions involved in acquiring goods and services. The printing of paper money is typically regulated by a country's central bank or treasury in order to keep the flow of funds in line with monetary policy.
- Any doubts, Raise your hands to clear doubts.
- Is barter system better than paper moeny?
- Representative money is government-produced money backed by a physical commodity such as precious metals. Other forms of representative money are still in place, including financial instruments like checks and credit cards.
- In barter, it it difficult to find a person who wants to buy what exactly the seller needs to sell. So paper moeny is better
- Ok Ma'am.
- A cryptocurrency is an encrypted data string that denotes a unit of currency. It is monitored and organized by a peer-to-peer network called a blockchain, which also serves as a secure ledger of transactions, e.g., buying, selling, and transferring.
- Yes, Thank you Teacher.
- I hope all of you have understood the history of barter system to cryptocurrency.
- Thank you Teacher.
- Thank you, Teacher.
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