People can undertake exchange without using money

The only function of money is to be a medium of exchange

One problem with coins that included valuable metals was that rulers might replace them with debased coins and so cause inflation

From 1719-1931 it was generally possible to exchange Bank of England notes for gold at a stable rate

Max Muller

Adam Smith

Karl Marx

None of these above

Socialistic Economy

Gandhian Economy

Mixed Economy

Free Economy

both agriculture and industry are equally promoted by the state

there is co-existence of public sector along with private sector

There is importance of small scale industries along with heavy industries

economy is controlled by military as well as civilian rulers

indicative

imperative

limited

limited