Question

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

Answer 1

it is authorized by govt.

the law legalizes the use of money as medium for exchanging good

it is portable

it solve problem of double coincidence of wants

Answer 2

$\Large{\textbf{\underline{\underline{Points\;are}}}}$

1. Current cash is approved by the administration of a nation.

2. In India the save bank of india gives all cash notes for the benefit of the focal government.

3. No other individual or association is permitted to give money.

4. The law sanctions the utilization of rupee as a vehicle of installment that can't be declined in settling exchanges in india.

5. No person in india can legitimately decline an installment made in rupees.