ECONOMICS
MONEY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Money
|
|
|
Commodity Money
|
|
|
Fiat Money
|
|
|
Federal Reserve Notes
|
Detailed explanation-1: -Early forms of money were often commodity money-money that had value because it was made of a substance that had value. Examples of commodity money are gold and silver coins.
Detailed explanation-2: -Examples of Commodity Money: Some examples of commodity money are: Gold. Copper.
Detailed explanation-3: -Bartering is the exchange of goods and services between two or more parties without the use of money. It is the oldest form of commerce.
Detailed explanation-4: -Commodity money has been used throughout history as a medium of economic exchange. Commodity money is money that has intrinsic value, meaning that it has value even if it is not used as money. Examples of commodity money include precious metals, foodstuffs, and even cigarettes.