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How far it is correct to say that modern currency is without any use of its own as a commodity. Give reason for your answer

Posted by Nikhil Kumar 5 years ago

CBSE > Class 10 > Social Science

1 answers

Yogita Ingle 5 years ago

Yes, The Modern Currency is 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 everyday use.
3) Money is yet accepted as a medium of exchange because it is authorized by the government of the country.

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CBSE > Class 10 > Social Science