How does money act as a medium of exchange?
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because it is authorised by the government of that country and in india money is authorised by RBI
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A medium of exchange is something that buyers will exchange with a seller when they want to purchase goods or services from the seller. While many things could be used as a medium of exchange in an economy, money is the most common and useful medium of exchange in our society.
Money act as an intermediate in the exchange process. Currency is authorised by the government as medium of exchange.
Money act as an intermediate in the exchange process. Currency is authorised by the government as medium of exchange.
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