question_answer

The modem currency is without any use of its own as a commodity. Why is it accepted as money?

Answer:

Modem currency is without any use of its own as it not made of precious metal such as gold, silver and copper and unlike grain and cattle it is not of daily use. But still it is accepted by all as a medium of exchange because the currency is authorised by the government of the country. Everybody is bound to accept it. Its non-acceptance is an offence.