Economics · Oct / Nov 2020 · Paper 23 · Question 5
2281
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The question as text
It was announced in November 2016 that 500 and 1000 rupee banknotes could no longer be used in shops in India. These were replaced by the central bank, an institution that makes extensive use of division of labour. In India, cash is still an important form of money used in economic transactions. The replacement of banknotes put pressure on banking staff and other workers in the tertiary sector, and affected the general price level.
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5(a)[2]
5(b)[4]
5(c)[6]
5(d)[8]
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