Start learning →

Why is modern currency accepted as a medium of exchange?

AThe government authorises it
BIt is made of precious metal
CIt can be eaten or worn
DBanks print and sell it
Answer & Solution
Correct answer: A. The government authorises it
Modern notes have no use of their own, but the government authorises them, so people accept them.
Practise this question with Quill — CBSE Class 10 →

Keep practising Economic Development & Banking

Browse all Economic Development & Banking questions for CBSE Class 10, or explore more Social Science topics.

Start a Economic Development & Banking lesson →