why modern currency is accepted as median of exchange without use of its own
for 3 marks
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Answer:
Modern currency is accepted as a medium of exchange because it is authorized by the central government of a country.
Explanation:
Modern currency is accepted as a medium of exchange: ...
1.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.
3. The rupee cannot be refused legally as a medium of payment in India.
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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.
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