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The term fiat money or fiat currency is generally associated with a classification of money that has been authorized for use by a country's government. • Statement 1 is Incorrect: Bitcoin is a cryptocurrency. Cryptocurrencies are not legal tender, they have not yet been recognized as a valid form of currency by the Government of India. • Statements 2 and 3 are also Incorrect: Although cheques and demand drafts are often used in banking transactions, they do not fall in the category of fiat money because they can be rejected as the mode of transaction. • Statements 4 and 5 are Correct: Coins and notes are fiat money because the value of the currency notes and coins is derived from the guarantee provided by the Central Government on these items. Every currency note bears on its face a promise from the RBI that if someone produces the note to RBI or any other commercial bank, RBI will be responsible for giving the person purchasing power/value equal to the value printed on the note.
The societal marketing concept is most closely related to:
IMC Inc. focuses specifically on social media content marketing for their clients and hence would be considered a:
Which of the following statements about the purchase stage of the consumer purchase decision process is NOT true?
Wikipedia has a(n) __________ degree of self-disclosure.
Which segmentation factor will members of a local hunting, fishing, and trapping association be characterized as?
A type of retail outlet that focuses on one type of product at very competitive prices and often dominates the market is called a:
Which of the following customer service components is likely to be most critical for Ford when it purchases new-to-the-manufacturer automobile tires (ti...
Which of the following best illustrates the concept of derived demand?
Gasoline would be considered a:
As a recent graduate of university, you decided to open your own nail art studio. In this scenario, you would be classified as a(n):
