Advertisements
Advertisements
Question
Why one cannot refuse a payment made in rupees in India?
Advertisements
Solution
No one can refuse a payment made in rupees in India as law legalises the use of rupee as a medium of payment.
APPEARS IN
RELATED QUESTIONS
How does money act as a medium of exchange?
How do money and muscle power play an important role in elections? Explain.
Which one of the following refers to investment?
(A) The money spent on religious ceremonies
(B) The money spent on social customs
(C) The money spent to buy assets such as land
(D) The money spent on household goods
How do the deposits with banks become their source of income?
How can money easily exchange it for goods or services? Give example to explain.
Describe the vital and positive role of credit with examples.
Which one of the following is the appropriate meaning of collateral?
How is money used in everyday life? Explain with examples.
How does money solve the problem of double coincidence of wants? Explain with an example of your own.
Explain the meaning of 'Currency'.
