Why is modern currency accepted as a medium of exchange without any use of its own?

Asked by Last Modified  

1 Answer

Learn Economics +1

Follow 1
Answer

Please enter your answer

modern currency is accepted as a medium of exchange without any use of its own. 1). The modern forms of money include currency- paper notes and coins. 2). Unlike the things that were used as money earlier, modern currency is not made of precious metal such as gold, silver, and copper and unlike grain...
read more
modern currency is accepted as a medium of exchange without any use of its own. 1). The modern forms of money include currency- paper notes and coins. 2). Unlike the things that were used as money earlier, modern currency is not made of precious metal such as gold, silver, and copper and unlike grain and cattle, they are neither of everydayvuse. 3). Money is yet accepted as a medium of exchange beacause it is authorized by the government of India read less
Comments

Related Questions

What is the fee for a student going to class 11 for JEE coaching?
fees for JEE coaching (11th or 12th) its depends upon which coaching your joining like if u will go KOTA and your joining RESONANCE, BANSAL, ALLEN, MOTION, VIBRANT, CAREER POINT almost all coaching will...
Saddam
0 0
6
Which coaching institute should I join in class 11 for iit?
I suggest career endeavour or kotta classes You should also prepare by yourself too
Sumit
0 0
5
As the supply of tomatoes increases in your local mandi, its price drops. When the local harvest starts reaching the market, the price of tomatoes drops from Rs. 40 per kg to Rs 4 per kg or even less. Is there any relationship between two variables?
The fall in price of tomatoes when the local harvest starts reaching the market is due to following two readons: 1. When supply is in much excess of demand , as per basic theory of economics the price...
Meenakshi
0 0
5
How do I start preparing for JEE MAINS from class 11 without using coaching?
Apart from your daily study routine, you have to spend at least 2 to 3hours to clear only basic concepts of any subject.
Vishvajeet
0 0
5

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

What is Monetary Policy Committee (MPC) ?
The new MPC is to be a six member panel that is expected to bring "VALUE and TRANSPARENCY" to rate setting decisions. It will feature three members from the RBI- the Governor, a Deputy Governor , and another...


How to get good marks in Economics?
Here are the tips: Make a flow chart for every topic/chapter Give to the point answer Be clear with all terms/important definitions Don't skip diaram wherever necessary Try to solve maximum types...


Utility and its features
What is Utility and what are its features?

Recommended Articles

Appearing for exams could be stressful for students. Even though they might have prepared well, they could suffer from anxiety, tension etc. These are not good for their health and mind. However, following a few exam preparation tips can save them from all these and help them to score good marks. Let’s find out all...

Read full article >

Once over with the tenth board exams, a heavy percentage of students remain confused between the three academic streams they have to choose from - science, arts or commerce. Some are confident enough to take a call on this much in advance. But there is no worry if as a student you take time to make choice between - science,...

Read full article >

Quality education does not only help children to get a successful career and life, but it also hugely contributes to society. The formal education of every child starts from school. Although there are numerous schools, parents find it challenging to choose the right one that would fit their child. It is difficult for them...

Read full article >

With the mushrooming of international and private schools, it may seem that the education system of India is healthy. In reality, only 29% of children are sent to the private schools, while the remaining head for government or state funded education. So, to check the reality of Indian education system it is better to look...

Read full article >

Looking for Class 11 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you