Question

why is currency accepted as medium of exchange? 1 marks
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Answer 1

Answer:

(i) It is accepted as a medium of exchange because the currency is authorised by the government of the country. (ii) In India, the Reserve Bank of India issues currency notes on behalf of the Central Government. ... Hence this rupee is widely accepted as a medium of exchange.

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Answer 2

Answer:

It is accepted as a medium of exchange because the currency is authorised by the government of the country. (ii) In India, the Reserve Bank of India issues currency notes on behalf of the Central Government. ... Hence this rupee is widely accepted as a medium of exchange