Home › CBSE Class 10 › Social Science › c10moneycredit › Modern currency is accepted because it is author…
Modern 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: NCERT Class 10 Social Science, 'Understanding Economic Development', Ch 3 'Money and Credit'_
Related questions
Banks lend to poor women in SHGs even though they have no:Interest charged by a Self Help Group is compared with that of the:Self Help Groups are formed particularly among rural:A typical Self Help Group has how many members?What share of rich urban households' loans is from informal sources?What share of loans to poor urban households comes from informal sources?Who supervises the credit activities of informal lenders?Who supervises the functioning of formal sources of loans?