Question

Which one of the following is the important characteristic of modern form of currency?
A)It is made from precious metal
B)It is made from things of everyday use
C)It is authorized by commercial banks
D)It is authorized by the government of the country​

Answer 1

Answer:

D) is the right answer

Answer 2

Option D) It is authorized by the government of the country​ is the important characteristic of a modern form of currency.

Characteristics of the money:

• Currency is considered as the store of value.
• The currency has the unit of amount.
• Economic transaction is not possible without Currency.
• It is the medium of exchange which is popularly accepted in the world.

How it is used:

• In exchange for goods and services one has to pay the currency, which is accepted by the laws.