Question

How is modern form of currency accepted as a medium if exchange? ( I Want point by point ) ​
u don't know mean don't write you anwer ​

Answer 1

Answer:

• Modern currency is accepted as a medium of exchange:Modern currency is accepted as a medium of exchange because it is authorized by the central government of a country.
• In India, RBI issues the currency notes and it is illegal for any other organization or individual to issue the currency.

Answer 2

Explanation:

Modern currency is accepted as a medium of exchange without any use of its own because:

1) Modern currency is authorized by the government of a country.

2) In India, the Reserve Bank of India issues all currency notes on behalf of central Government.

3) No other individual or organization is allowed to issue currency.

4) The law legalises the use of rupee as a medium of payment that cannot be refused in settling transactions in India.

5) No individual in India can legally refuse a payment made in Rupees.

Modern currency is accepted as a medium of exchange: ... Modern currency is accepted as a medium of exchange because it is authorized by the central government of a country. 2. In India, RBI issues the currency notes and it is illegal for any other organization or individual to issue the currency.