Why is the modern currency accepted as a medium of exchange without any use of its own?

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It is easy to carry

Authorised by the government of India

Made transactions easy

All of the above

answer is D.

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Detailed Solution

The modern currency is accepted as a medium of exchange without any use of its own because it is easy to carry, authorised by the government of India and made transactions easy.
The modern currency is not, as such, made of any precious gold or silver but is rather made of paper. But still, it has a high value. Transactions can be easily done with the person having money. It can also be exchanged while consuming any service, such as a doctor, teacher, etc. In India, the RBI issues currency notes and coins on behalf of the government of India. It guarantees the value attached to the paper notes and coins. It is easier to carry and makes transactions easier. Thus, the modern form of currency is accepted as a medium of exchange without any use.

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