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What is money?why is modern money currency accepted as a medium of exchange?

Posted by Gurusimrandeep Deep 4 years, 3 months ago

CBSE > Class 10 > Social Science

1 answers

Najiya Thasnim 4 years, 3 months ago

Money is the medium of exchange used for exchanging goods, commodities or properties. Before money, barter system was present in the society, Modern money currency is accepted as a medium of exchange because: ... No individual can legally refuse payment in rupees so it is used as a medium of exchange.

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CBSE > Class 10 > Social Science