Question

"The modern currency is without any use of its own". Justify the given statement by giving atleast 3 points.

Answer 1

Yes, The Modern Currency is without any use of its own.
1) The modern forms of money include currency - paper notes and coins.
2) Unlike the things that were used as money earlier, modern currency is not made of precious metal such as gold, silver and copper and unlike grain and cattle, they are neither of everyday use.
3) Money is yet accepted as a medium of exchange because it is authorized by the government of the country.

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Answer 2

Modern currency is not made of precious metal such as gold, silver and copper. And unlike grain and cattle, they are neither of every day use. The modern currency is without any use of its own. Still, it is accepted as a medium of exchange because the currency is authorised by the government of the country.
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