economicsChoose the given statement as true/false:Money acts as a medium of exchange.

Choose the given statement as true/false:


Money acts as a medium of exchange.


  1. A
    True
  2. B
    False 

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    Solution:

    The above statement is true.
    Money provides the necessary intermediate step in an economy where it is used, reducing the need for two desires to coincide. Because it acts as a middleman in the trading process, money is referred to as a medium of exchange. It is accepted as a legitimate medium of exchange because the nation's government has authorised the money. The Reserve Bank of India prints currency for the Indian national government. Anyone in India who refuses a payment made in rupees is breaking the law.
     
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