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What is money ? Why is modern money cyrrency accepted as a medium of exchange

Posted by Garima Singh 7 years, 4 months ago

CBSE > Class 10 > Social Science

2 answers

Kannu Kranti Yadav 7 years, 4 months ago

Money is basically a medium to buy things.modern money includes paper notes, coins etc,.Modern currency is used as a medium of exchange because........................ • it is easily acceptable by people as it is issued by RBI ( reserve bank of India).. •it is easy to cary and handle.• it removes the concept of double coincidence of wants

1Thank You

Pradeep Rathod 7 years, 4 months ago

Modern form of money include currency paper,notes and coins. The RBI issue currency notes features of modern currency 1. Modern currency inclued paper notes coin deposit with bank cheque etc. 2. In india RBI issue currency notes behalf of the government the ruppes is widely accepted 3. The modern currency has no use of it except as a medium of exchange

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CBSE > Class 10 > Social Science