Practicing Success
When the modern currency i.e., paper notes and coins are without any use of its own, then why is it accepted as a medium of exchange? |
Economic viability Easy to carry and transfer High sustainability Authorized by the government of the country |
Authorized by the government of the country |
The modern currency is without any use of its own, it is still accepted as a medium of exchange because the currency is authorized by the government of the country i.e., they have a legal backing by the government. |