Economy, asked by poojagalhotra2531, 1 year ago

Why is money accepted as the medium of exchange 0th economics?

Answers

Answered by archanasr
0

A medium of exchange is an intermediary instrument used to facilitate the sale, purchase or trade of goods between parties. For an instrument to function as a medium of exchange, it must represent a standard of value accepted by all parties. In modern economies, the medium of exchange is currency.


archanasr: The role of medium of exchange is one of the uses of money. ... A medium of exchange permits the value of goods to be assessed and rendered in terms of the intermediary, most often, a form of money widely accepted to buy any other good.
Answered by Ajeesha15
0
★✩ ʜᴇʀᴇ ɪs ʏᴏᴜʀ ᴀɴsᴡᴇʀ..

Money is accepted as a medium of exchange because the currency is authorised by the \color{violet}{Government\: of \:India.}

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