Question

How modern forms of money made our life easier

Answer 1

Answer:

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In the olden days metal pieces were taken as money. Modern currency has the specific amount of the given money with the government signature. It has simplified lives for if the old types of currency were taken than one would have to sit with a weighing maching everyday while selling a product

Explanation:

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Answer 2

Modern currency has the specific amount of the given money with the government signature

Explanation:

• In the olden days metal pieces were taken as money. This money could easily be corrupted for if the shopkeeper didn't have any weighing machine he could have just said that it was of higher amount.  Modern currency has a "specific amount" of the "given money" with the Indian government's authorised  signature (the RBI Governor). It has simplified our lives when compared to old types of currency
• This is because old currencies were metal based and the value of currency had depended on the weight of the metal. Early forms of money, included  coins, were based on the "intrinsic value" of the "materials" that they were composed of. Face standards have not been implemented for the most part. Coins traded at the expense of their weight in precious metal. The worth of a handful of coins, for example, is measured with scales instead of counting coins on the market. This was inconvenient since the present debasements contributed rapidly to inflation and to the accumulation of older coins with a higher value than their actual metal worth, which was then approved at a lower value.
• However modern currencies had made life easier as each currency has a fixed face value. It is not made of valuable materials and it is not seen every day. They are recognised as money due to the authorisation of the govt. As such the need for precious metal is not required. Also these currency need not be carried all time. Money can be deposited in banks and we make payment using money cards such as debit/credit card.  
• Modern coinage "currency & paper notes" are flexible & durable. Modern currency is small but distinctive in size, making it much easier to hold. Modern currency's value is steady and constant. It is usually appropriate for the current currency. Modern currency is available in different shapes and sizes, each with a distinct value, size , colour and type. Even this form of currency helps in exchange of other currencies in all parts of the world by giving it specific amounts

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There are many good qualities found in modern currency agree or ...

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