Section A: Multiple Choice Questions (MCQs) Q1. Which of the following is NOT a function of money? Answer: (c) Means of production Money serves as a medium of exchange, a store of value, and a standard of deferred payment, but it is not a means of production. Q2. The Reserve Bank of India was established…

Q:- Define moneyAns: — Money is anything which served as a medium of exchange and at the same timeacts as a measure and store of value.Q. What is Barter system Exchange? What are its drawbacks?Ans: – Barter system exchange means exchange of goods for goods.Drawback of Barter system Exchange:-1. Absence of common unit of measure2.…