Question

Why is modern currency accepted as a medium of exchange without any use of its own? Find out the reason. 

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

Answer:

Modern currency has to accepted by all the citizens a a medium of exchange as it is authorised by the government.

Explanation:

Currency is accepted as a medium of exchange because the government has authorised this rule. The currency in the form of paper notes does not have any value of its own if if does not above the signature of RBI governor, it will be just a colourful piece of paper.

Modern currency includes paper notes and metal coins. The government issues currency in this form. Citizens of any country cannot refuse to accept the payment done in the form of currency authorised by the respective country.

No other than government can issue currency as it will be treated illegal.