Question

Why is modern currency accepted as a medium of exchangee without any use if its own?

Answer 1

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

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.