In this article we will discuss about:- 1. Meaning of Paper Standard 2. Merits of the Paper Standard 3. Demerits. Meaning of Paper Standard: Paper standard consists of paper money which is unlimited legal tender and token coins of cheap metals. Paper money may be either convertible or inconvertible. Convertible paper money is convertible into […]
Paper Standard: Meaning, Merits and Demerits
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The Gold Standard: Meaning, Working and Merits
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In this article we will discuss about:- 1. Meaning of the Gold Standard 2. Types of the Gold Standard 3. Rules 4. Working 5. Decline 6. Merits 7. Demerits 8. Non-Restoration. Meaning of the Gold Standard: The gold standard is a monometallic standard in which the value of the monetary unit is fixed in terms […]
Bimetallism: Meaning, Merits and Demerits
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In this article we will discuss about:- 1. Meaning of Bimetallism 2. Merits of Bimetallism 3. Demerits. Meaning of Bimetallism: Bimetallism, also known as bimetallic standard, is a monetary system under which the monetary unit of the country is expressed by law in terms of two metals, usually gold and silver, in a specific ratio. […]