Question

why is money called a median of exchange

Answer 1

Because it's from the Reserve Bank of India.. And nobody refuse it to take.. Buyers will exchange with a seller when they want to buy goods...

Hope it helps you my dear friend..

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Answer 2

Because it is authorized by the government of the country, the value of each good or service is measured in rupees or notes , the law legalises the use of money as a medium of payment that cannot be refused in transactions.