ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Its value comes from being declared “legal tender"-an acceptable form of payment-by the government of the issuing country. In this case, we accept the value of the money because the government says it has value and other people value it enough to accept it as payment.

Detailed explanation-2: -Definitions of agreed upon. adjective. constituted or contracted by stipulation or agreement. synonyms: stipulatory noncontroversial, uncontroversial. not likely to arouse controversy.

Detailed explanation-3: -◊ The forms agreed, agreed-upon, and (less commonly) agreed-on are used as adjectives in both U.S. and British English. She paid him the agreed price. They met at the agreed-upon time.

Detailed explanation-4: -agreements. An agreement is made when two parties agree to something.