Question

why is money called a medium of exchange?why is it accepted as a medium of exchange in india​

Answer 1

Answer:

Money is the medium of exchange used for exchanging goods, commodities or properties. Before money, barter system was present in the society, Modern money currency is accepted as a medium of exchange because: ... No individual can legally refuse payment in rupees so it is used as a medium of exchange.

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Answer 2

Money helps to faciliate trade because people in the economt generally recoznige it as valuable .Money is called the medium of exchange because money is a widely accepted tolen that can be used for exchange of any good or service .

Money is accepted as a medim of because :

a) The currency is authorized by the government of the country .

b) The Resrrve of India issues currency notes on behalf of the government . As per indian law, no other individual or organisation is allowed to issue currency .

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