Before the advent of legal tender and credit instrument, ...
Before the advent of legal tender and credit instrument, which of the following was used as a medium of exchanged?
Currency notes
Cowries
Cheques
Bankdrafts
Correct answer is B
Cowries where used as a medium of exchange by traders during the barter system. The cowrie currency had enabled the economy to overcome the inherent problems of the barter exchange system.
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