what is money? why is modern money currency accepted as a medium of exchange?
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money acts as a medium of exchange and eliminates the need of double coincidence of want it is accepted as medium of exchange because it is authorised by the central government of India
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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.
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