Read the following case and answer the question that follows:

Unlike the things that were used as money earlier, modern currency is not made of precious metals such as gold, silver and copper. And unlike grain and cattle, they are neither of everyday use. The modern currency is without any use of its own.

[[1]] is not like the earlier forms of currency like grain or cattle.

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Detailed Solution

Modern currency is not like the earlier forms of currency like grain or cattle.
Modern currency is paper slips and coins, which are authorised by the Reserve Bank of India. It has the face of Mahatma Gandhi and holds a value that can be used for transactions with an exchange of other commodities. The earlier forms of currency, such as grain and cattle, fall under the barter system, in which a commodity can be replaced with another commodity. But, it has problems, as the goods exchanged are not of the same value. Thus, it leads to another person's loss as he exchanges a commodity of much higher value for one of lower value.

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