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nexus9112 [7]
3 years ago
14

When the receipts given by goldsmiths to depositors were used to make purchases, _________

Business
1 answer:
Sholpan [36]3 years ago
3 0

Answer:

The correct answer is option d.

Explanation:

Money can be defined as something which is accepted as a medium of exchange in the economic transactions involving the exchange of goods and services.

When the receipts given by the Goldsmiths were used to make purchases, they served the medium of exchange function of money.

So these receipts in effect became paper money.

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