Question

The money is widely excepted as a medium of exchange." Explain.

Answer 1

Heya mate here is ur answer ♡

Money helps to facilitate trade because people in the economy generally recognize it as valuable. Money is called medium of exchange because money is a widely accepted token that can be used for exchange of any good or service. In old days barter system was used as medium of exchange and later it was gold.

hope it helps uhh ✌

Answer 2

Answer:

HELLO DEAR !!!

GUD EVE ♥

MONEY IS WIDELY EXCEPTED AS A MEDIUM OF EXCHANGE :-

♡ ITS AUTHORIZED BY THE GOVERNMENT OF THE COUNTRY

♡ ITS DEMAND AND SUPPLY CAN BE CONTROLLED BY STATE GOVERNMENT

♡ IN INDIA , THE LAW LEGALISES AS A MEDIUM OF PAYMENT THAT CANNOT BE REFUSED IN SETTLING TRANSACTIONS

♡ NO INDIVIDUAL CAN LEGALLY REFUSE THE PAYMENT MADE IN RUPEES

♡ IN INDIA THE VALUE OF EACH GOODS AND SERVICES IS MEASURED IN TERMS OF RUPEES

HOPE IT HELPS !!!!

HVE A GRT DAY AHEAD ^o^