What is the difference between a cash economy and a noncash economy?

What is the difference between a cash economy and a non-cash economy Introduction: The Evolving Financial Landscape Hello everyone! As the world progresses, so does the way we handle money. Gone are the days when cash was king. Today, we have a diverse range of financial systems, each with its own set of advantages and challenges. In this video, we'll be exploring the contrasting realms of cash and non-cash economies, shedding light on their key disparities and the impact they have on our lives. Defining the Cash Economy Let's start by understanding what a cash economy entails. Simply put, it's an economic system where physical currency, such as banknotes and coins, is the primary medium of exchange. Transactions in a cash economy are conducted using tangible money, and the value of goods and services is determined by the amount of cash exchanged. Historically, cash has been the backbone of economies, facilitating trade and commerce for centuries. The Advantages of a Cash Economy Cash offers several advantages. Firstly, it's universally accepted.