alleryModern currency is accepted because it is authorised by the:
AGuardian
BGovernment
CGoldsmith
DGuarantor
Answer & Solution
Correct answer: B. Government
1. The currency has no use of its own.
2. Its acceptance rests on authority, not material.
3. It is authorised by the government of the country.
_Source: syllabus Social Science, 'Understanding Economic Development', Ch 3 'Money and Credit'_
Keep practising Economic Development & Banking
Browse all Economic Development & Banking questions for CBSE Class 10, or explore more Social Science topics.
Related questions
What must every e-commerce entity display under the 2019 Act?Which authority was set up under the Consumer Protection Act, 2019?What is a mediator in consumer disputes?Which is a weakness of the consumer redressal process in India?Why is evidence hard to gather in many small purchases?Roughly how many consumer groups exist in India, per NCERT?Which of these goods must be certified before sale in India?For which product is certification mandatory for producers?