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"Rupee is widely accepted as a …

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"Rupee is widely accepted as a medium of exchange " justify yur answer...........

    • Posted by Puja Sahoo? 6 years, 11 months ago

    CBSE > Class 10 > Social Science
    • 4 answers

    Shashikant Yadav 6 years, 11 months ago

    Rupee is widely accepted as a medium of exchange because- =it is authorised by government of India. = it is Indian currency which gives a nation purchasing power. =it also faciliates and developes a nation's economy.

    1Thank You

    Gaurav Seth 6 years, 11 months ago

    • The primary function of money is to act as a medium of exchange between two parties involved in a transaction. It avoids the practical problems of wastage of time and resources involved in the barter system of exchange and it improves the efficiency of the transaction.
    • It promotes allocation efficiency in the trade and production of goods and services.  In case of the barter system, the sale and purchase of goods occurs at the same time. Their sale and purchase value also remains equal at that point.
    • A person can purchase or sell goods with cash without selling or purchasing any good at that point, after money came into existence. Thus, the act of purchase and sale has been separated.
    • Thereby the medium of exchange facilitated sale and purchase very easily in terms of monetary value. 

    1Thank You

    Puja Sahoo? 6 years, 11 months ago

    Thanx.....bt i want answer in points, so... can yu provide me...?

    1Thank You

    Dhruv Yadav 6 years, 11 months ago

    Actually, money is widely as a medium of exchange because here we can exchange goods directly by the use of money.It is a very easy and convenient method to exchange of different goods

    1Thank You

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