Q. 74.4( 17 Votes )

‘Modern currency is without any use of its own’; then why is it accepted as a medium of exchange?[CBSE 2014]

Answer :

Modern currency is accepted as a medium of exchange because it is authorised by the government of the country.

Explanation: Earlier currency was made of metals having intrinsic value. Now modern currency doesn’t have intrinsic value but authorisation of the authority.

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